New plasticity solutions to the drained stability of conical slopes in homogeneous cohesive-frictional soils were investigated by axisymmetric finite element limit analysis. Three parameters were studied, i.e. excavated height ratios, slope inclination angles, and soil friction angles. The influences of these parameters on the stability factor and predicted failure mechanism of conical slopes were discussed. A new design equation developed from a nonlinear regression of the lower bound solution was proposed for drained stability analyses of a conical slope in practice. Numerical examples were given to demonstrate a practical application of the proposed equation to stability evaluations of conical slopes with both associated and non-associated flow rules.