The formability of both heat-treated and as-hot-rolled dual-phase steels was evaluated in neck- and fracture-limited forming modes and compared with the formability of conventional high-strength low-alloy (HSLA) or microalloyed steels. For both production routes the formability of dual-phase steels was found to be sensitive to tensile strength, improving as the tensile strength decreased. Forming-limit diagrams developed for the dual-phase steels were consistent with those reported in earlier studies and are superior to those of microalloyed steels of equivalent tensile strength. Conversely, the hole enlargement and transverse bend data showed that the dual-phase steels are somewhat poorer than comparable HSLA steels in fracture-limited formability. In the stretch-bend test, which combines bending and tensile stresses, the dual-phase steels were once again found to be superior to equivalent HSLA grades. Also, while the method of dual-phase steel production had no significant effect on the forming limit diagrams, the heat-treated dual-phase steels in this study exhibited poorer sheared-edge stretchability, bendability, and stretch bendability than as-hot-rolled dual-phase steels.