The variation in properties of a ferromagnetic material with depth below the surface is assessed in a nondestructive fashion using a probe that incorporates an electromagnet. An alternating magnetic field is generated in the electromagnet and so in the object, and a magnetic sensor is arranged to sense a magnetic field due to the electromagnet. Signals from the magnetic sensor are analysed into an in-phase component and a quadrature component, and these are mapped directly into material property and lift-off components; this analysis enables accurate measurements of material property (such as stress) to be distinguished from changes in lift-off. The measurements are repeated for at least five different frequencies of the alternating magnetic field; and the measurements at different frequencies are deconvolved assuming a functional form for the variation of material property with depth, the function having no more than five unknown constants. The stress at depths for example in the range 0.5 mm to 5.0 mm can hence be measured nondestructively.