• Hess average quick ratio for 2023 was 1.29, a 15.13% decline from 2022.
• Hess average quick ratio for 2022 was 1.52, a 0.65% decline from 2021.
• Hess average quick ratio for 2021 was 1.53, a 17.3% 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.