• Cummins average quick ratio for 2023 was 0.82, a 11.83% decline from 2022.
• Cummins average quick ratio for 2022 was 0.93, a 21.85% decline from 2021.
• Cummins average quick ratio for 2021 was 1.19, a 7.21% decline from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.