The texture of 400 series stainless steels was investigated by using neutron diffraction and the calculated R-values from the texture were compared with the experimental R-values. Cold rolled samples with different reduction rates were used to investigate the effect of the cold rolling reduction rate on the formability. Also, the stored energies of the cold rolled samples were relatively evaluated by using neutron diffraction. The R-value of the recrystallized samples revealed similar values after an 80% reduction, and the stored energy of the cold rolled samples presented the same results.