Well acttshually, it's 100% efficient. If you put 1W in, you will get exactly one watt out, steady state. The resulting steady state temperature would be close to watts * steady state thermal resistance of the system. ;)
I don't think you could use "efficiency" here? The math would be based on thermal resistance. How do you get a percentage from that? If you have a maximum operating temperature, you end up with a maximum operating wattage. Using actual operating wattage/desired operating wattage doesn't seem right for "efficiency".