The matrix method, as an effective FEM formulation for the analysis of rigid-plastic deformation, was applied to the bore expanding of anisotropic sheet metal. The effect of planar anisotropy on sheet metal deformation was studied for bore expanding process under the uniform radial stretching condition, and the results were compared with isotropic and normal anisotropic solutions. Experiments were carried out using a flat punch for cold-rolled sheet metal. The experimental results were compared with computations from the matrix method with the boundary conditions corresponding to actual experiment. Both in theory and experiment, it is found that the maximum thinning which results in necking occurs in the direction of the minimum R-value. The results also suggest that the matrix method is efficient for analyzing planar anisotropic sheet metal. The comparison between theory and experiment suggests that Hills theory of planar anisotropy is somewhat exaggerated. However, the theoretical predictions are in qualitative agreement with the experimental results.