This paper presents an analytical model of a three-phase axial flux coreless generator excited by permanent magnets, with special focus on determining the model pa- rameters. An important aspect of this model is the derivation of a coefficient that corrects the flux on the inside and outside edges of the magnets. The obtained parameters are ver- ified by performing field analyses and measurements. A comparison of the results show satisfactory convergence, which confirms the accuracy of the proposed analytical model.