• Hormel Foods average quick ratio for 2023 was 0.88, a 28.46% increase from 2022.
• Hormel Foods average quick ratio for 2022 was 1.23, a 15.75% decline from 2021.
• Hormel Foods average quick ratio for 2021 was 1.46, a 4.29% 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.