• Michelin average quick ratio for 2023 was 1.04, a 8.33% increase from 2022.
• Michelin average quick ratio for 2022 was 0.96, a 14.29% increase from 2021.
• Michelin average quick ratio for 2021 was 1.12, a 0% 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.