High pressure torsion (HPT) is useful for achieving substantial grain refinement to ultrafine grained/nanocrystalline states in bulk metallic solids. Most publications that analyzed the HPT process used experimental and numerical simulation approaches, whereas theoretical stress analyses for the HPT process are rare. Because of the key role of compression stage for the deformation of HPT, this paper aims to conduct a theoretical analysis and to establish a practical formula for stress and forming parameters of HPT process using the slab analysis method. Three equations were obtained via equations derivation to describe the normal stress states corresponding to the three zones of plastic deformation for HPT process as stick zone, drag zone and slip zone. As to the compression stage of HPT, the stress distribution results using the finite element method agree well with those using the slab analysis method. There are drag and stick zones on the contact surface of the HPT sample, as verified by the finite element method (FEM) and slab analysis method.