Machine tools are fundamental equipment in industrial production, and their processing quality exerts a direct impact on the quality of the component product that they process. Thus, machine tool manufacturers develop various machine tools depending on market needs and processing functions, and the processed component products generally possess multiple smaller-the-better, larger-the-better, and nominal-the-best quality characteristics at the same time. For this reason, this study employed the widely used process capability indices, [Formula: see text], [Formula: see text], and [Formula: see text] to develop a model that can evaluate the process quality of component products and analyze the processing quality of various machine tools. We first converted the process capability indices into functions of the accuracy and precision indices and constructed a multi-characteristic quality analysis chart that can identify the reason for poor process quality in a quality characteristic. Furthermore, considering the fact that the process capability indices can only be estimated, which may lead to misjudgment in the evaluation of process quality, we derived the [Formula: see text] upper confidence limits of indices and the coordinates formed by the corresponding accuracy and precision indices. Manufacturers can then evaluate the process quality levels of the quality characteristics based on where the coordinates falls in the multi-characteristic quality analysis chart. This can more reliably assist manufacturers in monitoring the processing quality of their machine tools and providing feedback to the machine tool manufacturers for machine improvement.