Static mixers (SM) have become standard equipment in the process industries. They are widely used in applications that involve chemical reactions, heat transfer, blending of fluids, or a combination of these. Compared to mechanically agitated vessels, SMs consume less energy, require less maintenance, and can provide mixing with shorter residence time. Assessment of the performance of SM provides a means to categorize and rank the available devices and new designs, which in turn facilitates selection for specific applications. Applying the second law efficiency (SLE) principle, we derived and proposed a novel mixing parameter, the M number, which is a dimensionless ratio of mixing level to energy loss. The parameter is compared to an industry-standard method of mixing evaluation that relies on the coefficient of variation (CoV) change across the mixer. Both CoV and the M number are used to evaluate mixing performance from computational fluid dynamics (CFD) results for a static mixer for various inlet conditions. Unlike the CoV-based parameters considered, the M number offers the advantages of accounting for energy loss and the natural mixing effects of the system. In addition, an empirical relationship is obtained that relates the M number to the Reynolds number (Re). Potential applications for the M number are discussed and its limitations are noted. Work in progress includes investigation with other SM.