In this paper, the RCF(Resistive Companion Form) analysis method is applied to analyze small signal stability of power systems including thyristor controlled FACTS(Flexible AC Transmission System) equipments such as TCSC(Thyristor Controlled Series Capacitor). The eigenvalue sensitivity analysis algorithm in discrete systems based on the RCF analysis method is presented and applied to the power system including TCSC. As a result of simulation, the RCF analysis method is very useful to precisely calculate the variations of eigenvalues or newly generated unstable oscillation modes after periodic switching operations of TCSC. Also the eigenvalue sensitivity analysis method based on the RCF analysis method enabled to precisely calculate eigenvalue sensitivity coefficients of controller parameters about the dominant oscillation mode after periodic switching operations in discrete systems. These simulation results are different from those of the conventional continuous system analysis method such as the state space equation and showed that the RCF analysis method is very useful to analyze the discrete power systems including periodically operated switching equipments such as TCSC.