• Spirax Group average quick ratio for 2023 was 1.25, a 4.17% increase from 2022.
• Spirax Group average quick ratio for 2022 was 1.2, a 21.05% increase from 2021.
• Spirax Group average quick ratio for 2021 was 1.52, a 22.84% 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.