In this paper, a theoretical model is developed for the dynamic analysis of composite thin-walled beams with open or closed cross-sections. The present model incorporates, in a full form, the shear flexibility (bending and warping shear) as well as a state of initial stresses. This allows to study the free vibration and buckling problems in a unified fashion. An analytical solution of the developed equations is obtained for the case of simply supported thin-walled beams. Numerical examples are given to demonstrate the importance of the shear flexibility on the vibration and buckling behavior of the considered structures.