You can estimate this in under a minute. Take your missed calls per month, multiply by the percentage that would have been genuine new-job enquiries, then by your conversion rate on those enquiries, then by your average job value.
The result is your potential missed revenue — not guaranteed lost money, but a realistic illustration of what's slipping through while you're on site.
Worked example: a roofing business
Twenty missed calls a month. Say 80% are genuine enquiries (sixteen), you'd normally convert 30% of those (about five), and your average roofing job is worth £1,500. That's roughly £7,500 a month — £90,000 a year — in potential work you never even quoted for.
Worked example: a plumbing & heating business
Fifteen missed calls. 90% genuine (thirteen), 25% conversion (about three), £600 average job. That's around £1,800 a month — £21,600 a year. Smaller per job, but it adds up quickly, and emergency call-outs often go to whoever answers first.