Every term is defined twice: once the way a filing would put it, and once the way somebody would explain it to you across a table. The second one is usually the one that sticks.
Showing 2 terms
The value of work awarded to a company and not yet executed, measured at a date.
Opening backlog plus inflow, less execution and cancellations, plus any re-measurement, equals the closing figure. When the arithmetic does not close, the gap is the story.
Closing order backlog divided by revenue, read as years of revenue cover.
Only meaningful if both halves describe the same work. A backlog containing unawarded bids, divided by revenue containing short-cycle sales, is unreliable in both directions.