We analyzed the material properties of low-density felts that are used as substrates for new-generation flexible and conformal carbon/phenolic ablators, and compared them with those of a rigid carbon fiber preform that is used to manufacture rigid carbon/phenolic ablators. Micro-tomography measurements were obtained using synchrotron X-rays, allowing the characterization of the materials’ microstructure at the scale of the fibers. Using the tomography voxels as computational grids, we computed tortuosity and room temperature conductivity. In addition we performed micro-scale simulations of the oxidation of carbon fibers using a random walk model for oxygen diffusion and a probability law to model surface reactions.