Answer
The assembly thrust capacity is the lower of the Ring Shear Strength ($P_r$) and the Groove Yield Strength ($P_g$). $P_r = \frac{D \cdot t \cdot π \cdot S_s}{K}$, where $S_s$ is the shear strength and $K$ is a safety factor (usually 3). $P_g = \frac{D \cdot d \cdot π \cdot S_y}{K}$, where $d$ is the groove depth and $S_y$ is the yield strength of the housing/shaft material. In almost all cases involving soft materials like aluminum (6061-T6), the groove is the limiting factor. The groove will 'roll' or deform plastically, causing the ring to dish out and eventually fail. Engineers must calculate the 'groove deformation' limit using the formula $P_{def} = \frac{A_s \cdot S_y}{\phi}$, where $\phi$ is a factor accounting for the angle of the load.
