• Snap-On average quick ratio for 2023 was 2.61, a 10.59% increase from 2022.
• Snap-On average quick ratio for 2022 was 2.36, a 12.92% increase from 2021.
• Snap-On average quick ratio for 2021 was 2.09, a 3.98% 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.