• 3M average quick ratio for 2023 was 0.85, a 11.46% increase from 2022.
• 3M average quick ratio for 2022 was 0.96, a 21.31% decline from 2021.
• 3M average quick ratio for 2021 was 1.22, a 7.58% 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.