• Lennox average quick ratio for 2023 was 0.64, a 20.99% increase from 2022.
• Lennox average quick ratio for 2022 was 0.81, a 8% decline from 2021.
• Lennox average quick ratio for 2021 was 0.75, a 8.54% increase 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.