The static and dynamic performances of a machine tool structure are considered to constitute the primary factors affecting the load-carrying capacity, geometric accuracy and surface precision of the workpiece. The machining performance of a large machine tool under stable conditions is effectively determined by its dynamic response to the cutting force at low-frequency excitation. This study, therefore, investigated the static and dynamic characteristics of a large heavy-duty lathe machine tool in which the headstock and tailstock comprised critical component modules supporting a large workpiece during low-speed machining. Using a finite element model, the influences of the structural modules on the static and dynamic characteristics of the lathe were analyzed, considering the effects of the workpiece load. The results indicated that the fundamental vibration modes of the lathe were primarily dominated by headstock, tailstock, and workpiece behaviors. The maximum compliances of the lathe under the rated load were found to occur at relatively low frequencies (22, 40.7, and 82.7 Hz) and increase with the reduction in workpiece weight. Notably, these modal frequencies were significantly higher than the maximum rotational speed of the spindle (450 rpm). In addition, the dynamic rigidity corresponding to the rated speed was higher than that induced at the natural frequency. These results indicate that the subject lathe possesses sufficient capacity to sustain the cutting load during stable turning machining. This study can, therefore, help designers improve the performance of machine tools for future fabrication.