• Nova average quick ratio for 2023 was 2.25, a 30.98% decline from 2022.
• Nova average quick ratio for 2022 was 3.26, a 5.16% decline from 2021.
• Nova average quick ratio for 2021 was 3.1, a 49.92% 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.