The aim of this study is to derive a simple formula for predicting ultimate strength of hull girders under vertical bending moment. The existing formulas have been reviewed and classified into analytical approach, empirical approach and linear approximate approach. It is known that the ship hull will reach the ultimate limit state if both collapse of the compression flange and yielding of the tension flange occur. Side shells in the vicinity of the compression and tension flanges will often fail also, but the material around the final neutral axis will remain in the elastic state. Based on this observation, a credible distribution of longitudinal stresses around the hull section at the overall collapse state is assumed, and an explicit analytical formula is derived. The accuracy of the formula has been verified by a comparison of the experimental and the numerical results.