H-shaped beam installed in a braced structure are subjected to reversed axial force during the earthquake. In the previous paper, the evaluation index and formulae for beams collapse with dominant local buckling are reported. In this paper, additional experiments and numerical analyses are carried out to clarify the influences of combined (local and lateral) buckling for the ultimate strength, plastic deformation capacity, and cumulative plastic deformation capacity. Based on the obtained results, the new evaluation index and formulae are proposed here. Finally, the applicability of the previous equation of Bauschinger effect coefficient is investigated to calculate the hysteresic energy absorption.