See numbers and diagrams at the end, or at the top. I measured a few cases: the difference between no external fragmentation and severe external fragmentation (over 99%). I have both a narrow index and a wide index, and I read one (1), 10,000 and 100,000 rows using index searches (“range scan”). There were obviously no difference reading 1 row so I exclude that from my discussion below. For the other cases the extra time with an extreme level of external fragmentation is (from lowest impact to highest) 7%, 10%, 13% and 32%. The highest number (32%) is when reading many rows from a narrow index, i.e. many rows per page. Again, this is with an extreme level of fragmentation.
What’s interesting is that for the most part, there’s a negligible difference between ~0% internal fragmentation and ~99% internal fragmentation. The follow-on question is, how much are defrag operations costing you in performance and when is the benefit worth the cost?