This work investigated the microstructural effect on stretch flangeability of ferrite–martensite dual-phase (DP) steels. Three types of DP steels with various martensitic structures were prepared for the research: fibrous martensite in water-quenched (WQ) sample, chained martensite in air-quenched (AQ) sample, and coarse martensite in step-quenched (SQ) sample. The WQ specimen exhibited the highest mechanical strength and hole expansion ratio compared to the AQ and SQ samples despite their similar fraction of martensite. Such a result was explained in view of uniform distribution of fine martensite and high density of geometrically necessary dislocations in the WQ specimen. Meanwhile, most cracks initiated at either rolling or transverse direction during the stretch flangeability test regardless of the martensitic morphology. It was attributed to the highest average normal anisotropy in the direction of 45° to rolling direction.
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