The stamping forming performances of SUSXM7 steel sheets were evaluated by carrying out the tests of drawing，hole expansion and erichsen. The stamping forming performances of the ordinary stainless stee1 SUS304 were studied for a contrast. The experimental results indicate that the limiting drawing ratio LDR and erichsen depth IE of two materials are very close, and the drawing property and bulging performance of two materials are similar. Hole expansion rate λ of SUSXM7 stainless steel is much larger than that of SUS304，so flanging performance of it is better than that of SUS304. The differences of two materials in drawing property, bulging performance and flanging performance are deduced by the different hardening value n and plastic strain ratio value r of them and the different stress states in danger area of materials in tests of drawing，hole expansion and erichsen.