To predict the damage evolution of cold upsetting, the computer-aided evaluation of forming limits was obtained by the finite-element software DEFORM-3D and the modified Cockcroft-Latham criterion. The variations of the strain paths and strain ratio influenced by interfacial friction conditions and specimen aspect ratio were studied. The notion of fracture energy diagram (FED) is proposed in this paper to evaluate the forming limits of materials. The specific energy consumption (SEC) can be taken as a quality characteristics to optimize the die design and process design parameters.