Error　compensation　technique　is　a　recognized　and　cost-effective　method　to　improve　machining　accuracy　of　machine　tools.　In　this　article,　a　new　compensation　method　for　geometric　error　is　proposed　based　on　Floyd　algorithm　and　product　of　exponential　screw　theory.　Based　on　topological　structure　and　measured　data,　volumetric　geometric　error　modeling　is　established　by　product　of　exponential　screw　theory.　Then,　the　improved　Floyd　minimum-distance　method　was　used　to　establish　an　error　compensation　model　by　adjusting　weight　unceasingly.　In　order　to　verify　the　effectiveness　and　generality　of　the　method　proposed　in　this　article,　two　experiments　were　designed.　A　total　of　5　five-axis　machining　centers　of　the　same　type　with　different　use　time　were　selected　to　carry　out　the　simulation　experiments.　Results　show　that　the　Floyd　method　can　provide　higher　compensation　precision,　that　is,　Floyd　algorithm　compensation　method　can　keep　positioning　errors　within　the　range　[-8　mu　m,　9　mu　m].　In　addition,　roundness　error,　coaxial　error,　and　surface　roughness　were　reduced　in　the　actual　machining　experiments　of　two　machined　conical　tables.　Therefore,　it　can　be　seen　that　the　proposed　compensation　method　is　effective　to　improve　machining　accuracy　of　machine　tools.