diff --git a/tools/perf/arch/powerpc/util/skip-callchain-idx.c b/tools/perf/arch/powerpc/util/skip-callchain-idx.c
index 264fc0158100..7c6eeb4633fe 100644
--- a/tools/perf/arch/powerpc/util/skip-callchain-idx.c
+++ b/tools/perf/arch/powerpc/util/skip-callchain-idx.c
@@ -58,9 +58,13 @@ static int check_return_reg(int ra_regno, Dwarf_Frame *frame)
 	}
 
 	/*
-	 * Check if return address is on the stack.
+	 * Check if return address is on the stack. If return address
+	 * is in a register (typically R0), it is yet to be saved on
+	 * the stack.
 	 */
-	if (nops != 0 || ops != NULL)
+	if ((nops != 0 || ops != NULL) &&
+		!(nops == 1 && ops[0].atom == DW_OP_regx &&
+			ops[0].number2 == 0 && ops[0].offset == 0))
 		return 0;
 
 	/*