In this paper, an approach for a two-and-half-dimensional (2.5D) finite element method (FEM)-based analysis, or quasi-three- dimensional (3D) FEM analysis, of an axial flux machine is discussed. By cutting the 3D model laterally and thereby creating cylindrical surface cuts, the 3D model can be split into several cylindrical surfaces. Transforming those cylindrical cuts into planes leads to a layer-based two-dimensional (2D) model with different radii for each layer. By integrating over all lateral surface cuts, the results for the entire axial flux machine can be determined. In comparison to the simulation of a full 3D FEM model, the simulation of the proposed 2.5D model is much faster. To validate the approach, the two main types of axial flux machines are simulated with both 3D-FEM-based model and 2.5D-FEM-based approach, and the results are presented in this paper.