• Johnson Controls average quick ratio for 2023 was 0.76, a 2.56% decline from 2022.
• Johnson Controls average quick ratio for 2022 was 0.78, a 10.34% decline from 2021.
• Johnson Controls average quick ratio for 2021 was 0.87, a 5.43% 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.