This paper presents a comparative simulation study on springback and formability in square cup manufacturing using Conventional (CDD) and Hydromechanical Deep Drawing (HMDD). While CDD relies on mechanical force, HMDD employs controlled fluid pressure, offering advantages like reduced friction, suppressed wrinkling, and higher formability. Using Abaqus/CAE, 3D models simulated the entire forming and springback process for two specimens: C1 (CDD) and C2 (HMDD). Effectiveness was evaluated based on six criteria: the forming process, Von Mises stress, residual stress, equivalent plastic strain, thickness distribution, and springback magnitude along OX, OY, and OZ axes. Results show HMDD produces superior quality. Specimen C2 exhibits more uniform stress and strain distribution, better-controlled thinning, and crucially, a significantly minimized springback (especially OZ-axis displacement at the flange and bottom corners), reduced by up to 2.5 times. This confirms HMDD's effectiveness for manufacturing precise, complex box-shaped components. The study provides a valuable database and methodology for optimizing processes and controlling defects in automotive, aerospace, and machinery manufacturing.