Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the quick ratio (acid-test) high or low?
The quick ratio (acid-test) of 1.93 is 26% below its 5-year average of 2.61, near the low end of its 5-year range (1.21–3.74).
As of the fiscal period ended Tuesday, March 31, 2026. 22.32% below its 12-month average of 2.49.
Reported quarterly quick ratio; no daily interpolation.
QUICK RATIO (ACID-TEST)
1.93
QUICK RATIO (ACID-TEST) AVG TTM
2.49
QUICK RATIO (ACID-TEST) AVG 3Y
2.70
QUICK RATIO (ACID-TEST) AVG 5Y
2.57
QUICK RATIO (ACID-TEST) AVG 10Y
2.65
QUICK RATIO (ACID-TEST) AVG 15Y
3.03
QUICK RATIO (ACID-TEST) AVG 20Y
3.24
CURRENT VS TTM AVG
-22.32%
CURRENT VS 3Y AVG
-28.46%
CURRENT VS 5Y AVG
-24.90%
CURRENT VS 10Y AVG
-26.94%
CURRENT VS 15Y AVG
-36.13%
CURRENT VS 20Y AVG
-40.25%
SECTOR MEDIAN · INDUSTRIALS
1.16
median of 130 covered companies
CURRENT VS SECTOR MEDIAN
+66.67%
vs the sector median at left
Axon Enterprise, Inc.
Market Cap
$42.54B
Quick Ratio (Acid-Test)
1.93
TTM Avg
2.49
3Y Avg
2.70
5Y Avg
2.57
Market Cap
$42.84B
Quick Ratio (Acid-Test)
0.64
TTM Avg
0.82
3Y Avg
0.78
5Y Avg
0.92
Market Cap
$44.12B
Quick Ratio (Acid-Test)
1.44
TTM Avg
1.39
3Y Avg
1.66
5Y Avg
2.16
Market Cap
$39.38B
Quick Ratio (Acid-Test)
0.59
TTM Avg
0.67
3Y Avg
0.76
5Y Avg
0.88
Market Cap
$37.60B
Quick Ratio (Acid-Test)
3.61
TTM Avg
2.65
3Y Avg
2.61
5Y Avg
3.23
Market Cap
$49.13B
Quick Ratio (Acid-Test)
0.57
TTM Avg
0.63
3Y Avg
0.64
5Y Avg
0.66
Market Cap
$49.65B
Quick Ratio (Acid-Test)
1.28
TTM Avg
1.31
3Y Avg
1.31
5Y Avg
1.62
| NAME | MARKET CAP | QUICK RATIO (ACID-TEST) | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Axon Enterprise, Inc. (AXON) | $42.54B | 1.93 | 2.49 | 2.70 | 2.57 |
| Thomson Reuters Corporation (TRI)vs › | $42.84B | 0.64 | 0.82 | 0.78 | 0.92 |
| Paychex, Inc. (PAYX)vs › | $41.56B | 1.26 | 1.27 | 1.30 | 1.28 |
| Old Dominion Freight Line, Inc. (ODFL)vs › | $44.12B | 1.44 | 1.39 | 1.66 | 2.16 |
| United Airlines Holdings, Inc. (UAL)vs › | $39.38B | 0.59 | 0.67 | 0.76 | 0.88 |
| Ferrovial SE (FER)vs › | $47.22B | 1.05 | 1.09 | 1.15 | 1.22 |
| Rocket Lab USA, Inc. (RKLB)vs › | $37.60B | 3.61 | 2.65 | 2.61 | 3.23 |
| Westinghouse Air Brake Technologies Corporation (WAB)vs › | $49.13B | 0.57 | 0.63 | 0.64 | 0.66 |
| HEICO Corporation (HEI-A)vs › | $49.65B | 1.28 | 1.31 | 1.31 | 1.62 |
| EMCOR Group, Inc. (EME)vs › | $35.17B | 1.19 | 1.23 | 1.23 | 1.29 |
Quick Ratio
1.93
Excludes inventory
Current Ratio
2.53
Includes inventory
Quick Ratio = (Current Assets − Inventory) / Current Liabilities
The quick ratio is a stricter liquidity measure that excludes inventory, showing the ability to meet short-term obligations with the most liquid assets.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | QUICK RATIO (ACID-TEST) |
|---|---|
| 2026-03-31 | 1.93 |
| 2025-12-31 | 2.29 |
| 2025-09-30 | 2.89 |
| 2025-06-30 | 2.71 |
| 2025-03-31 | 2.62 |
| 2024-12-31 | 1.21 |
| 2024-09-30 | 2.63 |
| 2024-06-30 | 2.52 |
| 2024-03-31 | 2.55 |
| 2023-12-31 | 2.79 |
| 2023-09-30 | 2.78 |
| 2023-06-30 | 2.98 |
| 2023-03-31 | 2.97 |
| 2022-12-31 | 2.66 |
| 2022-09-30 | 2.39 |
| 2022-06-30 | 2.35 |
| 2022-03-31 | 2.18 |
| 2021-12-31 | 2.39 |
| 2021-09-30 | 2.71 |
| 2021-06-30 | 3.63 |
| 2021-03-31 | 3.74 |
| 2020-12-31 | 3.48 |
| 2020-09-30 | 3.01 |
| 2020-06-30 | 3.31 |
| 2020-03-31 | 2.93 |
| 2019-12-31 | 2.97 |
| 2019-09-30 | 2.91 |
| 2019-06-30 | 3.26 |
| 2019-03-31 | 3.23 |
| 2018-12-31 | 3.16 |
| 2018-09-30 | 3.43 |
| 2018-06-30 | 3.66 |
| 2018-03-31 | 1.68 |
| 2017-12-31 | 1.48 |
| 2017-09-30 | 1.36 |
| 2017-06-30 | 1.37 |
| 2017-03-31 | 1.45 |
| 2016-12-31 | 1.82 |
| 2016-09-30 | 2.11 |
| 2016-06-30 | 2.53 |
| 2016-03-31 | 2.98 |
| 2015-12-31 | 3.82 |
| 2015-09-30 | 3.98 |
| 2015-06-30 | 4.03 |
| 2015-03-31 | 4.00 |
| 2014-12-31 | 3.81 |
| 2014-09-30 | 4.50 |
| 2014-06-30 | 4.30 |
| 2014-03-31 | 4.09 |
| 2013-12-31 | 4.15 |
| 2013-09-30 | 3.77 |
| 2013-06-30 | 3.14 |
| 2013-03-31 | 4.08 |
| 2012-12-31 | 3.76 |
| 2012-09-30 | 3.05 |
| 2012-06-30 | 3.16 |
| 2012-03-31 | 3.87 |
| 2011-12-31 | 3.16 |
| 2011-09-30 | 3.34 |
| 2011-06-30 | 4.03 |
| 2011-03-31 | 5.55 |
| 2010-12-31 | 5.40 |
| 2010-09-30 | 5.89 |
| 2010-06-30 | 5.31 |
| 2010-03-31 | 6.48 |
| 2009-12-31 | 5.14 |
| 2009-09-30 | 4.03 |
| 2009-06-30 | 6.26 |
| 2009-03-31 | 7.15 |
| 2008-12-31 | 7.13 |
| 2008-09-30 | 4.37 |
| 2008-06-30 | 3.62 |
| 2008-03-31 | 7.65 |
| 2007-12-31 | 6.65 |
| 2007-09-30 | 5.17 |
| 2007-06-30 | 5.25 |
| 2007-03-31 | 3.69 |
| 2006-12-31 | 2.56 |
| 2006-09-30 | 1.55 |
| 2006-06-30 | 1.42 |
| 2006-03-31 | 4.63 |
| 2005-12-31 | 4.25 |
| 2005-09-30 | 4.95 |
| 2005-06-30 | 4.98 |
| 2005-03-31 | 5.37 |
| 2004-12-31 | 6.23 |
| 2004-09-30 | 7.86 |
| 2004-06-30 | 9.58 |
| 2004-03-31 | 8.39 |
| 2003-12-31 | 5.85 |
| 2003-09-30 | 3.25 |
| 2003-06-30 | 2.16 |
| 2003-03-31 | 3.46 |
| 2002-12-31 | 2.66 |
| 2002-09-30 | 4.12 |
| 2002-06-30 | 4.26 |