Faradiac efficiency is essentially electron counting: e.g. at 100pct efficiency you need a mole of electrons to convert a mole of Li+ to Li0. At 50pct 2 moles. Moles of electrons can be converted to amp-hrs for a more conventional unit.
Numbers are probably reasonably high (99+%) for commercial batteries, as the only two losses are ohmic (electric conduction through the cell, which is roughly the self discharge rate) and chemical (side reactions of electrolyte - which result in the degredation of the cell.
If you want so dive further down the rabbit-hole look up the Nernst equation.
Comes up more in electrochemistry than batteries, as energy efficiency is the dominant factor in the latter (watts_out/watts_in), noting that faradiac efficiency doesn't consider voltage.