There are many ultrasonic measurement methods that are used in nondestructive testing applications. Some typical applications include material property determination, microstructural characterization. and flaw detection. Ultrasonic parameters such as velocity and attenuation are most commonly required in these applications. The accuracy and repeatability of testing results are dependent on both the hardware used to generate and receive the ultrasonic waves and on the analysis software for calculating these parameters. In this study, five analysis algorithms were implemented on a computer for measuring wave speed in a pulse echo. immersion testing configuration. In velocity measurements comparisons were made between the overlap. cross-correlation. Fourier transform. Hilbert transform, wavelet transform algorithms. Velocity measurement was applied to an isotropic steel sample using the five analysis algorithms. Frequency-dependent phase/group velocity and attenuation were also measured using the Fourier transform and wavelet transform algorithms on a composite laminate containing voids.