• RPM average quick ratio for 2023 was 1.49, a 33.04% decline from 2022.
• RPM average quick ratio for 2022 was 1.12, a 17.65% increase from 2021.
• RPM average quick ratio for 2021 was 1.36, a 7.48% 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.