Full-wave analysis of circular guiding structures completely filled with ferrite by using the finite difference frequency domain method is presented. The ferrite is assumed to be azimuthally magnetized to remanence. Emphasis is placed on the TE 0m modes that are rotationally symmetric. These modes exhibit nonreciprocal behavior that could be exploited to build phase shifters and microwave isolators. Dispersion diagrams for these modes are given for both forward and reverse waves, and the effect of various ferrite parameters is studied. It is shown that the dispersion diagram may exhibit a region of negative slope, which gives rise to backward wave. V V C 2008 Wiley Periodicals, Inc. Int J RF and Microwave CAE 00: 000-000, 2009.