A method of determining the actual properties of a film stack. An incident beam of light is directed towards the film stack, such that the incident beam of light is reflected from the film stack as a reflected beam of light. The actual properties of the reflected beam of light are measured, and properties of the film stack are estimated. A mathematical model of the film stack is solved with the estimated properties of the film stack to yield theoretical properties of the reflected beam of light. The theoretical properties of the reflected beam of light are compared to the actual properties of the reflected beam of light to yield a cost function. The estimated properties of the film stack are iteratively adjusted and the mathematical model is iteratively solved until the cost function is within a desired tolerance. The estimated properties of the film stack are reported as the actual properties of the film stack. A method based on analytical derivatives, and not numerically computed derivatives, of solutions to Maxwell's equations that are at least partially expressible as complex exponential matrices is used to iteratively adjust the estimated properties of the film stack.