An approach using the energy method in which the total deforming region is divided into several sections of different geometric shapes is suggested for the analysis of axisymmetric sheet metal forming with friction boundary condition. The corresponding solutions are found through optimization of the total energy dissipation with respect to some parameters assumed in the velocity field as well as in the corresponding geometric profile. Computations are carried out for hemispherical punch stretching of normal anisotropic work-hardening materials for several lubrication conditions. The punch load vs stroke relation, geometric configuration and strain components are determined from the computation. The comparison of the computed results with finite element solutions and corresponding experiments shows good agreements of solutions in load vs stroke, deformed profiles and strain distribution for various lubrication conditions. It is thus shown that the present simple approach can be effectively employed for the analysis of axisymmetric sheet metal working processes.