In this paper, the study of torque/speed characteristic for five-phase Surface-mounted Permanent Magnet (SPM) machine is carried out. With considering several hypothesis (linear magnetic modelling, only first and third harmonic terms in the back-emf and current spectrums), an optimization problem that aims to maximize the torque for given maximum voltage and RMS current is formulated: the optimal torque sharing among the two virtual machines (the two dq-axis subspaces) that represent the real five-phase machine is thus calculated for any mechanical speed. For an inverter and a DC voltage sized with only considering the first harmonic of back-emf and current, the problem is solved with changing the ratio between the two virtual machine back-emfs and changing the ratio between the two virtual machine inductances. The results are examined by introducing particular speed points.