In calculating the reliable capacity of carrying load of cold-formed thin-walled steel members, there has not yet been a proper method which directly takes into account the impact of the residual stress. Through the research of residual stress, models close to the actual situation are established. Based on the ultimate load criterion, considering both cold-formed residual stress and initial out-of-straightness, the whole stability of axially loaded compression member of cold-formed thin-walled crimping angle steel and channel steel are analyzed using FEM. Based on a lot of FEA numerical results obtained, the φ-λ curves of different kinds of sections and size are obtained. Finally, φ-λ curve that reflects the fact can be obtained. By comparing the curve with the code and results of experience, it is proposed that the stability coefficient φ of small slenderness member of the code should be increased appropriately.