A modified simplified rate-equation model that utilizes the Voigt profile function and another gain saturation model deduced from the kinetic equations are presented for performance analyses of a flowing chemical oxygen-iodine laser. Both models are adapted to both the condition of homogeneous broadening and that of inhomogeneous broadening being of importance and the condition of inhomogeneous broadening being predominant. Effects of temperature and iodine density on the output power and on variations of output power, optical intensity, and saturation intensity with flow distance are presented as well. There are differences between results of two models, but both qualitatively agree with known results.