To　improve　the　efficiency　and　robustness　of　electromagnetic　ultrasonic　testing,　magneto-acoustic　compound　inspection　for　ferromagnetic　materials　is　proposed.　Both　ultrasonic　waves　and　pulsed　eddy　current　(PEC)　could　be　obtained　by　the　single　detection　of　an　electromagnetic　acoustic　transducer　(EMAT),　where　ultrasonic　waves　were　generated　based　on　the　coupling　of　the　magnetostriction　effect　and　the　Lorentz　force　mechanism,　when　the　EMAT　was　used　to　detect　ferromagnetic　materials.　In　this　study,　three　simulation　models　of　the　EMAT　were　built　by　coupling　different　physics　fields　while　keeping　the　geometry　of　the　models　unchanged　and　the　other　parameters　of　the　EMAT　constant.　Transverse　wave　could　be　generated　by　magnetostriction　force,　and　longitudinal　wave　could　be　generated　by　Lorentz　force.　Based　on　time-frequency　analysis　of　the　simulation　results,　the　energies　of　ultrasonic　waves　and　PEC　were　concentrated　in　different　frequency　ranges.　Through　the　filtering　strategy　and　by　separating　the　time-domain　signal,　magnetostriction　force　ultrasonic　wave　(MFUW),　Lorentz　force　ultrasonic　wave　(LFUW),　and　PEC　could　be　decoupled　from　the　EMAT　testing　signal.　Multiple　parameters　can　be　extracted　by　a　single　detection　of　the　EMAT,　and　the　ability　of　the　electromagnetic　ultrasonic　testing　can　be　improved.