Purpose Thrust bearings play a critical role in high-speed rotating machinery, such as turbines, pumps, compressors, and turbogenerators, by transferring axial loads between the collar and the bearing pads. The lubricating fluid prevents contact, friction, and wear between solid parts and acts as a cooling medium. The purpose of this study is to evaluate the first- and second-order bearing coefficients of an inclined pad hydrodynamic thrust bearing, which have not been previously investigated, to improve the accuracy of modeling thrust bearings. Methods In the analysis of thrust bearing systems, the lubricating fluid film is modeled as a massless spring-damper system. The finite perturbation method for the governing Reynolds equation is used to calculate the dynamic coefficients of the thrust bearing. This is done using the finite difference method (FDM) in polar coordinates. Results This study investigates the influence of misalignment, rotating speed, and mesh size on the bearing coefficients of the thrust bearing. The results show that misalignment angle and film thickness have a clear effect on the dynamic coefficients, while changing the rotational speed has no effect on the damping coefficients. The study also investigates the axial force and moments and dynamic coefficients of an inclined pad thrust bearing. Conclusion This study concludes that evaluating the first- and second-order bearing coefficients of the thrust bearing using the finite perturbation method can improve the accuracy of modeling thrust bearings. The study also highlights the significant influence of misalignment and film thickness on the dynamic coefficients of the thrust bearing. The results presented in this study provide valuable data that can be used as input for rotor dynamics analyses in high-speed rotating machinery.