This paper proposes a method for predicting precisely ultimate strength and displacement of stainless steel plates under uniaxial compression. Based on stress-strain diagrams of stainless steels obtained by coupon tests, the method consists of two classified parts. At the first part, the ultimate strength is estimated by plate slenderness and proposed constants of each stainless steel in the region of elastic buckling. In the region of apparent difference of the stress-strain diagrams between stainless steel and mild steel, the ultimate strength is calculated by predicted ultimate displacement and stress-strain diagrams. The proposed method is independent of proof stress which is 0.1% or 0.2%, because of a proposed conversion factor.