This study aims to analyze engine performance and component characteristics of a micro gas turbine based on detailed measurement of various parameters. A test facility to measure performance of a micro gas turbine was set up and performance parameters such as turbine exit temperature, exhaust gas temperature, engine inlet temperature, compressor discharge pressure and temperature, and fuel and air flow rates were measured. The net gas turbine performance (power and efficiency based on the gas turbine shaft end) was isolated and analyzed. With the aid of measurement based simulation, component characteristic parameters such as turbine inlet temperature, compressor efficiency, turbine efficiency and recuperator effectiveness were estimated. Behaviors of the estimated characteristic parameters with operating condition change were examined and sensitivities of estimated parameters to the measured parameters were analyzed.