The non‐stoichiometry of material compounds significantly influences their functional properties. In semiconductors, point defects determine whether a material is n‐type or p‐type and the concentration of charge carriers. Even in structural alloys and ion conductors used in batteries and fuel cells, non‐stoichiometry and dilute defects play an integral role in their function. The design of metal alloys has advanced rapidly with the aid of thermodynamic modeling using calculation of phase diagrams (CALPHAD) to predict the phases produced during different processing conditions. While thermodynamic modeling has been done previously by fitting experimental data, the advent of first‐principle techniques has enabled the computational prediction of material properties. The defect energy formalism (DEF) is described for modeling charged and uncharged defects in compounds, showing that it accurately predicts non‐stoichiometry using density functional theory (DFT), without fitting experiments. The model reproduces the expected defect and free‐charge carrier concentrations using the statistical mechanics approach commonly used in most DFT defect studies. Finally, the model is used to accurately predict the single‐phase region of PbTe with no fitting to measured defect concentrations. This method can revolutionize materials development of insulators, semiconductors, and even metals by allowing rapid DFT calculations to replace laborious experiments when dilute defects are involved.