• Labcorp average quick ratio for 2023 was 1.45, a 9.94% decline from 2022.
• Labcorp average quick ratio for 2022 was 1.61, a 11.05% decline from 2021.
• Labcorp average quick ratio for 2021 was 1.81, a 49.59% 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.