Superior structural efficiency, ease of erection, mass-production capabilities and thermal-insulation qualities are making sandwich panels with fiat or thin-walled cold-formed steel facings and rigid foamed insulating core increasingly popular as enclosures for system buildings. In this paper, the structural behavior - including flexural stresses, deflections, vibration and thermal stresses - is presented, summarizing more than two decades of research. Methods used are analytical (boundary-value approaches), numerical (finite-strip, finite-layer finite-prism approaches) and experimental (full-scale testing). Key equations are formulated, and results by different methods are compared. Design guidelines are also suggested.