• Service average quick ratio for 2023 was 0.5, a 8.7% decline from 2022.
• Service average quick ratio for 2022 was 0.46, a 28.13% increase from 2021.
• Service average quick ratio for 2021 was 0.64, a 18.52% 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.