Magnetic properties of soft magnetic composites are highly sensitive to the processing conditions. In this paper we focus on the possibility to model this effect using the Jiles-Atherton-Sablik theory. It is assumed that the effect of varying compaction pressure may be described by direct introduction of stress-dependent term in the model equations. The values of model parameters are kept constant. Verification of the proposed approach is carried out using measurement data from self-developed iron-based composite cores.