A subchannel analysis code MATRA applicable to PWRs and ALWRs has been developed to be run on an IBM PC or HP WS based on the existing CDC CYBER mainframe version of COBRA-Rf-1. This MATRA code is a thermal-hydraulic analysis code based on the subchannel approach for calculating the enthalpy and How distribution in fuel assemblies and reactor cores for both steady-state and transient conditions. HATRA has been provided with an improved structure, various functions, and models to give more convenient user environment and to enhance the code accuracy. Among them, the pressure drop model has been improved to be applied to non-square-lattice rod arrays, and the models for the lateral transport between adjacent subchannels have been improved to enhance the accuracy in predicting two-phase flow phenomena. The predictions of MATRA were compared with the experimental data on the flow and enthalpy distribution in some sample rod-bundle cases to evaluate the performance of MATRA. All the results revealed that the predictions of MATRA were better than those of COBRA-IV-I.