The magnetic properties of 0.10 mm ultra-thin grain-oriented (UTGO) silicon steel and Fe-based amorphous (FBA) alloy under sinusoidal excitation were measured experimentally, and the magnetic field strength and iron loss of the two materials under different frequencies and magnetic densities were obtained. Based on the measured data, the magnetization and loss characteristics of the two materials were analyzed and compared. Furthermore, two Epstein square ring models of the same specification and different materials were designed, and the reliability of the models was verified. Then, the electromagnetic characteristics of the two Epstein square ring models at higher and lower frequencies were calculated by using the finite element method, and the iron loss was obtained and compared. The results show that the FBA alloy has good application characteristics at low frequency and low power, and the 0.10 mm UTGO silicon steel has good application characteristics at high frequency and high power. This research can provide important data basis to promote the application of these two materials in new energy equipment.