The water-cooled Permanent Magnet Linear Synchronous Motor (PMLSM) has a wide range of applications due to high efficiency, high thrust force density and high acceleration. In order to ensure normal operation and maximum output, both the magnetic and thermal performance are vital to be considered. Based on ANSYS software, electromagnetic and thermal finite-element analysis (FEA) models of a 14-pole, 12-slot water-cooled PMLSM are erected adopting suitable assumptions. Firstly, the thrust force and force ripple with different current densities are calculated. Secondly, the influence of different water flow on the motor heat dissipation and force performance under different operationional conditions are investigated and optimized. Furthermore, for continuous operation, the temperature rise and thrust feature are studied under the rated load 8A, the proper temperature $120^{circ}C$ and the limited temperature $155^{circ}C$. Likewise, for short-time operation, the maximum duration is calculated when applied with a certain large current. Similarly, for intermittent operation, load time as well as standstill time are determined with the optimal current to achieve better thrust performance.