The mechanics and dynamics of the combined processes are presented for multifunctional tools, which can drill, bore, and chamfer holes in one operation. The oblique cutting forces on each cutting edge with varying geometry are modeled first, followed by their transformations to tangential, radial, and axial directions of the cutter. The regenerative effect of lateral and torsional/axial vibrations is considered in predicting the dynamic chip thickness with multiple delays due to distribution of cutting edges on the cutter body. The lateral and torsional/axial chatter stability of the complete hole making operation is predicted in semidiscrete time domain. The proposed static cutting force and chatter stability prediction models are experimentally proven for two different multifunctional tools in drilling Aluminum Al7050 and Steel AISI1045.