• McCormick average quick ratio for 2023 was 0.3, a 6.25% increase from 2022.
• McCormick average quick ratio for 2022 was 0.32, a 5.88% decline from 2021.
• McCormick average quick ratio for 2021 was 0.34, a 15% 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.