<p>This study proposes performance limits for steel structural components that fail in shear or flexure. Despite numerous prior studies, a unified analytical approach for defining the boundaries between shear and flexural performance is still lacking. The present research consists of two complementary parts: theoretical analysis and Finite Element (FE) analysis. In the theoretical section, classical equations are employed along with specific assumptions regarding the different performance characteristics of steel components. Analytical relationships are derived to determine performance limits, considering the geometric properties of the sections and the type of steel used. The equations obtained from the analytical study not only validate previous research but also provide more accurate performance boundaries, showing differences of up to approximately 40–50% compared to existing theoretical and experimental relationships. In the FE analysis, the limits obtained from the theoretical part are evaluated for several steel components commonly used in EBF, KBF, and HCW systems, demonstrating consistent agreement with numerical simulations and mesh-independent results with less than 2% variation in key response parameters. The relationships proposed in this study define performance ranges more reliably than existing formulations for the behavior of various steel components and improve the designer’s understanding of their structural response.</p>