• Fastenal average quick ratio for 2023 was 2.15, a 16.85% increase from 2022.
• Fastenal average quick ratio for 2022 was 1.84, a 9.36% increase from 2021.
• Fastenal average quick ratio for 2021 was 2.03, a 2.53% 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.