Difficulty of torque measurements in high-speed permanent magnet (HSPM) motors has necessitated the development of improved torque calculations. Hence, this paper presents an analytical torque calculation of a high speed permanent magnet (HSPM) motor based on the power factor angle. On the basis of analytical magnetic field solutions, the equations for circuit parameters such as back-emf and synchronous inductance are derived analytically. All analytical results are validated extensively by non-linear finite element (FE) calculations and measurements. The internal angle (${delta}$) between the back-emf and the phase current is calculated according to the rotor speed by using analytical circuit parameters and the measured power factor because this angle is not measured but estimated in case of sensorless drive of the HSPM motor, significantly affecting torque calculation. Finally, the validity of the torque analysis method proposed in this paper is confirmed, by showing that the torque calculated on the basis of the internal angle is in better agreement with the measurements.