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A critical analysis of size and shape dependence properties of different type of nanomaterials is presented using a simple theory of equation of state (EOS) and bulk modulus. It is observed that compression behavior of nanomaterials depends on size and shape in addition to the applied pressure. To confirm the situation we have considered different type of nanomaterials. The model predictions are compared with the available experimental data. A good agreement between theory and experiments demonstrate the validity of model proposed for nanomaterials. Some results have also been reported in absence of experimental data to help the researcher engaged in the experimental studies of nanomaterials. Due to the simplicity and applicability of the model, it may be used to understand other properties of nanomaterials under varying physical conditions.