Can we quantify intelligence? Yes.

{Intelligence}(P) = \frac{\text{Coverage}(P)}{\text{Size}(P)}

Program P is a bit vector that can make a bit vector (Predictions) that attempts to predict a bit vector of actual measurements (Nature).

Coverage(P) is the sum of the XNOR of the Predictions vector with the Nature vector.

Intelligence(P) is equal to Coverage(P) divided by Size(P).

If programs A and B are the same size, the program with more coverage is more intelligent.

If they have the same coverage, the smaller program is more intelligent.

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Notes

The object of science is to describe in the fewest words the widest range of phenomena.
Karl Pearson, The Grammar of Science, pg 339 (1892)

ICS: A Measure of Intelligence