The Jiles–Atherton theory is based on considerations of the dependence of energy dissipation within a magnetic material resulting from changes in its magnetization. The algorithm based on the theory yields five computed model parameters, M _S , a, α, k, and c, which represent the saturation magnetization, the effective domain density, the mean exchange coupling between the effective domains, the flexibility of domain walls and energy‐dissipative features in the microstructure, respectively. Model parameters were calculated from the algorithm and linked with the physical attributes of a set of three related melt‐quenched permanent magnets based on the Nd₂Fe₁₄B composition. Measured magnetic parameters were used as inputs into the model to reproduce the experimental hysteresis curves. The results show that two of the calculated parameters, the saturation magnetization M _S and the effective coercivityk, agree well with their directly determined analogs. The calculated a and α parameters provide support for the concept of increased intergranular exchange coupling upon die upsetting, and decreased intergranular exchange coupling with the addition of gallium.