In this paper, we present an analytical method that provides fast and efficient evaluation of the conversion efficiency for Two transistor forward (TTF) DC-DC converter In the proposed method, the conduction losses are evaluated by calculating the effective values of the ideal current waveform first and incorporating them into an exact equivalent circuit model of the TTF converter that includes all the parasitic resistances of the circuit components. While the conduction losses are accurately accounted for the diode rectification, the core losses are assumed to be negligible in order to simplify the analysis. The validity and accuracy of the proposed method are verified with experiments on a prototype TTF converter An excellent correlation between the experiments and theories are obtained for the input voltages of 390V, output voltage 12V and maximum power 480W.