# Quote Win Rate and Margin Log Worksheet

> Source: https://netray.co/tools/quote-win-rate-and-margin-log-worksheet
> Publisher: Netray (netray.co), AI and integration engineering for ERP and manufacturing systems.
> Section: Free Tools

## Short answer

Log quotes with value, estimated cost and outcome to calculate hit rate by count and by dollars and the margin you win versus the margin you quote.

## Category

cost-finance

## Industry

Job Shop Machining

## Audience

- Estimator
- Sales manager
- Shop owner
- Controller

## Tool

**Kind:** worksheet

**Mode:** editable

**Currency:** $

**Columns:**

#### Quote #

**Key:** quote

**Type:** text

#### Customer

**Key:** customer

**Type:** text

#### Quote date

**Key:** date

**Type:** date

#### Process

**Key:** process

**Type:** select

**Options:**

- Milling
- Turning
- Fabrication
- Assembly
- Mixed

#### Quoted value

**Key:** value

**Type:** number

**Format:** currency

#### Estimated cost

**Key:** cost

**Type:** number

**Format:** currency

#### Won (1 = yes, 0 = no)

**Key:** won

**Type:** number

**Format:** integer

**Help:** Enter 1 for won, 0 for lost or expired. Leave pending quotes out until decided.

#### Quoted margin

**Key:** margin

**Type:** number

**Expr:** if(gt(value, 0), (value - cost) / value * 100, 0)

**Format:** percent

#### Won value

**Key:** won_value

**Type:** number

**Expr:** value * won

**Format:** currency

#### Won cost

**Key:** won_cost

**Type:** number

**Expr:** cost * won

**Format:** currency

**Rows:**

**Quote:** Q-24-0412

**Customer:** Northwind Hydraulics

**Date:** 2026-08-03

**Process:** Milling

**Value:** 18400

**Cost:** 13300

**Won:** 1

**Quote:** Q-24-0413

**Customer:** Delta Pump Co

**Date:** 2026-08-05

**Process:** Turning

**Value:** 9250

**Cost:** 7100

**Won:** 0

**Quote:** Q-24-0420

**Customer:** Harbor Marine

**Date:** 2026-08-11

**Process:** Fabrication

**Value:** 31800

**Cost:** 25600

**Won:** 1

**Quote:** Q-24-0427

**Customer:** Ridge Aerospace

**Date:** 2026-08-19

**Process:** Milling

**Value:** 22600

**Cost:** 15700

**Won:** 0

**Quote:** Q-24-0431

**Customer:** Northwind Hydraulics

**Date:** 2026-08-24

**Process:** Mixed

**Value:** 14900

**Cost:** 11200

**Won:** 1

**Quote:** Q-24-0438

**Customer:** Summit Robotics

**Date:** 2026-09-02

**Process:** Assembly

**Value:** 41200

**Cost:** 34900

**Won:** 0

**Totals:**

#### Total quoted

**Key:** value

**Agg:** sum

**Format:** currency

#### Quotes won

**Key:** won

**Agg:** sum

**Format:** integer

#### Total won value

**Key:** won_value

**Agg:** sum

**Format:** currency

#### Total estimated cost

**Key:** cost

**Agg:** sum

**Format:** currency

#### Total won cost

**Key:** won_cost

**Agg:** sum

**Format:** currency

**Summary:**

#### Win rate by count

**Key:** hit_count

**Expr:** sum_won / count * 100

**Format:** percent

**Primary:** true

#### Win rate by dollars

**Key:** hit_dollars

**Expr:** sum_won_value / sum_value * 100

**Format:** percent

**Primary:** true

#### Average margin on all quotes (weighted)

**Key:** quoted_margin

**Expr:** (sum_value - sum_cost) / sum_value * 100

**Format:** percent

#### Margin on won work (weighted)

**Key:** won_margin

**Expr:** if(gt(sum_won_value, 0), (sum_won_value - sum_won_cost) / sum_won_value * 100, 0)

**Format:** percent

#### Won margin minus quoted margin

**Key:** margin_gap

**Expr:** won_margin - quoted_margin

**Format:** decimal

**Notes:** Enter only decided quotes in the won column, or the win rate will be understated by pending work. A positive margin gap means you tend to win the higher-margin quotes; a negative gap means you win mostly on price and lose the better-priced work. Review by customer and by process monthly. Dates and customer names are sample data; replace them.

## Content

**Intro:** Most shops know roughly how many quotes they send but not how many they win, or at what margin. A quote log answers the question that drives pricing policy: if you win everything you quote, you are too cheap; if you win almost nothing, you may be out of the market or quoting the wrong work. This worksheet keeps the log and does the arithmetic.

**Sections:**

#### How to use it

**Body:** Add one row per quote with customer, date, process, quoted value and your estimated cost. When the customer decides, enter 1 for won and 0 for lost or expired. The worksheet computes quoted margin per row, the win rate by count and by dollars, and the weighted margin on all quotes versus the margin on the work you actually won. Export to Excel to filter by customer, estimator or month.

#### Count rate versus dollar rate

**Body:** Win rate by count treats a 2,000 dollar order and a 200,000 dollar order equally. Win rate by dollars weights by value, so a handful of big losses shows up immediately. If your count rate is healthy but your dollar rate is poor, you are winning small jobs and losing large ones, which usually points to pricing, capacity or capability limits on bigger orders. The reverse pattern suggests the small-quote volume is eating estimator time with little return.

#### Using the margin gap

**Body:** Compare the weighted margin on all quotes with the margin on won quotes. If you win at lower margin than you quote, price is deciding outcomes and discounts are creeping in. If won margin is higher, you are being selective or the high-margin work is sticky repeat business. A target many shops use is a stable gap close to zero with a win rate that matches capacity; the right numbers depend on your mix and backlog.

#### Common mistakes

**Body:** Counting pending quotes as losses drags the win rate down for months. Logging estimated cost after the quote is sent invites hindsight edits. Ignoring no-bid requests hides how much demand you decline. Track the reason for each loss in your CRM or ERP quote notes: price, lead time, capability or customer went away. A rate without reasons tells you the score but not how to improve it.

**Cta:** If your quotes live in an ERP or estimating tool, Netray can pull them into this view automatically and highlight loss reasons by customer and process.

**Faq:**

#### What is a good quote win rate for a job shop?

**Answer:** It varies widely with market, customer mix and how selectively you quote. Many shops see rates between 20 and 40 percent of quotes. Judge it against your capacity and margin: a rate that fills the schedule at healthy margin is good, regardless of the headline number.

#### Should lost quotes be included in margin analysis?

**Answer:** Yes, for the comparison of quoted versus won margin. Lost quotes show where you price relative to the market. The weighted margin on all quotes is your intended pricing posture; the margin on won work is the outcome after customers push back.

#### How do I handle quotes that expire without an answer?

**Answer:** Mark them as lost or expired with a 0 once the validity period passes, and note the reason as no response. Leaving them open inflates your pending pipeline and distorts both hit rates and forecasts.

#### Why track estimated cost on the quote log?

**Answer:** Because margin is the point. Recording the estimated cost at quote time lets you later compare it with actual job cost, which feeds back into better estimating and shows which processes or customers are consistently under-quoted.

## Search terms

quote log excel, quote win rate tracker, job shop quote hit ratio, rfq tracking spreadsheet manufacturing, quote conversion rate machine shop, estimating win loss log, quote margin tracker template, bid hit rate worksheet

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