Final yield strengths of metals plastically deformed in one‐dimensional strain by shock compression are calculated from the theory of shock propagation and work hardening. An energy analysis of the shock‐relief cycle employs a Mie‐Gru¨neisen‐type equation of state and appropriate Hugoniot compressibility curve to determine the thermodynamic states of the material and the plastic work done. The residual elastic strain energy stored in the metal was estimated assuming that a portion of the plastic work remains in the form of lattice defects. Results for copper and nickel are found to be in reasonable agreement with experimental data.