• Microchip Technology average current ratio for 2023 was 1, a 37.11% decline from 2022.
• Microchip Technology average current ratio for 2022 was 1.59, a 3.64% decline from 2021.
• Microchip Technology average current ratio for 2021 was 1.65, a 60.19% decline from 2020.

Current ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations.