• Garmin average quick ratio for 2023 was 2.19, a 13.47% increase from 2022.
• Garmin average quick ratio for 2022 was 1.93, a 15.72% increase from 2021.
• Garmin average quick ratio for 2021 was 2.29, a 4.58% 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.