Smooth bore unbonded flexible pipes are widely used to transport oil and gas in offshore fields. Due to its main application in shallow water, the radial bearing capacity is usually designed to be low for economic reasons. If the compressive load applied by tensioner equipment is too high during installation, the flexible pipe will fail due to excessive deformation. In this paper, the nonlinear behavior of smooth bore flexible pipes passing through tensioner equipment was investigated numerically and experimentally. A three-dimensional numerical model considering the nonlinear behavior of the materials, layer-to-layer contacts, and friction for flexible pipe radial compression analysis was established. A radial compression test was conducted to verify the accuracy of the numerical model; Then the numerical model was used to analyze the radial compressive behavior of each layer, and its load-bearing capacities and failure mechanisms were investigated. Finally, a parametric study was performed on the opening angle and number of tensioner tracks. The results of this study can provide a useful reference for the installation of smooth bore flexible pipes.