A method of forming a powder metal forging, which includes the steps of providing a preform including a sintered powder metal composition; inserting the preform in at least one part of a die set having a top die and a bottom die, at least one of the top die and the bottom die defining a helical forge form therewithin; closing the die set wherein the top die is contacting the bottom die; and compressing the preform in the forge form using an upper punch including a core rod and a lower punch, the compressing step occurring after the closing step, the compressing step resulting in a formed part having a helical outer surface. The method and apparatus of the present invention is particularly advantageous when forming a powder metal forging helical outer surface and an inner contour such as a cylindrical inside diameter.