In this work, a modified stage-stacking method for the performance prediction of multi-stage axial flow compressors is proposed. The method is based on a simultaneous calculation of all interstage variables (temperature, pressure, flow velocity) instead of the conventional sequential stage-by-stage scheme. The method is also very useful in simulating the effect of changing angles of the inlet guide vane and stator vanes on the compressor operating characteristics. Generalized stage performance curves are used in presenting the performance characteristics of each stage. General assumptions enable determination of flow path data and stage design performance. Performance of various real compressors is predicted and comparison between prediction and field data validates the usefulness of the present method.