This paper presents a practical methodology that uses the deep drawing test and finite element (FE) analysis to evaluate stamping lubricants under near production conditions. In stamping operations good lubrication helps to reduce wrinkling, premature fracture, and localized thinning. Furthermore, lubrication also reduces tool wear in large-volume production. Determination of reliable friction data associated with a given lubrication system is also important for successful process design and simulation by FE analysis. In this study, five stamping lubricants (four dry film lubes and one wet lube) were evaluated using the deep drawing test. The performance of the lubricants were evaluated based on: (a) maximum punch force measured, (b) the maximum applicable blank holder force (BHF), (c) the draw-in length, (d) the perimeter of flange after test, (e) the change of surface roughness, and (0 the inspection of surface topography. The coefficient of friction for each lubricant tested was determined through the FE-based inverse analysis by matching the predicted and measured values of the load-stroke curve and the draw-in length. This study showed that one of the tested lubricants was most effective, regardless of test speed and the magnitude of BHF. The methodology used was shown to be effective in evaluating various lubricants for sheet metal forming and accurately differentiating their performances. Published by Elsevier Ltd.