This paper presents a Permanent Magnet Flux Switching Motor (PM-FSM) performance analysis in healthy and faulty cases by a mathematical modeling method. A new fault detection and separation technique is described using six search windings (SWs), each obtained by two series search coils (SCs). The goal of the paper is to consider Static, dynamic, and mixed eccentricities (SE, DE, and ME), inter-turn (IT), and PM demagnetization (PD) faults. The style of the induced voltages is employed for the described fault detection/separation, where the IT and PD faults location is possible by using six open-circuit voltage of the search windings. Since each fault has a particular waveform style in the induced voltages of the SWs, the proposed method yields a real-time fast technique. The method is independent of the motor load thanks to the voltage-based approach, where the rotor rotation is the only necessity of the proposed method. Although the method used twelve SCs in the motor structure, distinguishing the various faults and their location possibility are its advantages compared to other SC-based techniques that use fewer SCs. The well-known flexible Magnetic Equivalent Circuit (MEC) with adjustable accuracy is used to analyze healthy and faulty motors by a unique model thanks to its flexibility and shorter processing time compared to the Finite-Element Method (FEM).