A theory for the analysis of stresses in laminated circular cylindrical shells subjected to arbitrary axisymmetric mechanical and thermal loadings has been developed. This theory, specifically for use with pyrolytic-graphite-type materials, differs from the classical thin shell theory in that it includes the effects of transverse shear deformation and transverse isotropy, as well as thermal expansion through the shell thickness. Solutions in several forms are developed for the governing equations. The form taken by the solution function is governed by geometric considerations. A range in which the various solution forms occur was determined numerically. As a sample problem, the slow cooling of pyrolytic graphite deposited onto a commercial graphite mandrel was considered. Investigation of normal and shear stress behavior at the pyrolytic graphite-mandrel interface showed that these stresses decrease in magnitude with increasing E/Gc ratio and increasing deposit to mandrel thickness (ha/hb) ratio. This implies that a thin mandrel and a material weak in shear are desirable to minimize the possibilities of flaking and delamination of the pyrolytic graphite.