An analysis is presented of the off-design performance of multistage axial-flow compressors. It is based on an analytical solution, valid for small perturbations in operating conditions from the design point, and provides an insight into the effects of choices made during the compressor design process on performance and off-design stage matching. It is shown that the mean design value of stage loading coefficient (ψ = Δh0/U2) has a dominant effect on off-design performance, whereas the stage-wise distribution of stage loading coefficient and the design value of flow coefficient have little influence. The powerful effects of variable stator vanes on stage-matching are also demonstrated and these results are shown to agree well with previous work. The slope of the working line of a gas turbine engine, overlaid on overall compressor characteristics, is shown to have a strong effect on the off-design stage-matching through the compressor. The model is also used to analyze design changes to the compressor geometry and to show how errors in estimates of annulus blockage, decided during the design process, have less effect on compressor performance than has previously been thought.