Book-to-bill
Orders booked divided by revenue or billings under the company’s stated reporting methodology, using the same period and monetary units. A ratio above one does not alone establish backlog growth.
Book-to-bill in round numbers
Hypothetical: a company reports US$12m of new orders and US$10m of revenue in one quarter, using revenue as the denominator. Its book-to-bill ratio is 1.2x. Inferring a backlog increase also requires reconciling cancellations, amendments, foreign-exchange movements and other scope effects.
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| Measure | Value |
|---|---|
| Orders booked in the quarter | US$12m |
| Revenue in the same quarter | US$10m |
| Book-to-bill: orders divided by revenue | 12 ÷ 10 = 1.2x |
Source: Redwire reporting: book-to-bill methodology and backlog changes.