An efficient analytical model for the transfer impedance and admittance of a noncoaxial/twinax braided-shielded cable with apertures on its sheath is proposed by generalizing the old Vance's and Kley's formulas, and it is derived using the complex analyses with an appropriate conformal mapping. Therefore, such a noncoaxial cable is converted into a coaxial one which can be studied using the traditional multiconductor transmission line method. It is shown that the aperture inductance is related to the position of the inner conductor and the radial position of each aperture on its sheath. In addition, the modal domain analysis is performed to obtain the common-mode (CM) and differential-mode (DM) transfer impedance/admittance of the twinax braided-shielded cable, with CM and DM currents inside the inner conductors examined. The proposed model is validated by comparing the results with that obtained by the method of moments (MoM)-based commercial software FEKO. It is found that the uniform distribution of the apertures on the sheath reduces the induced DM current significantly.