diff --git a/llvm/lib/Transforms/Utils/LoopPeel.cpp b/llvm/lib/Transforms/Utils/LoopPeel.cpp
index 27e70c5ddc0fc..1150c1c5a99cf 100644
--- a/llvm/lib/Transforms/Utils/LoopPeel.cpp
+++ b/llvm/lib/Transforms/Utils/LoopPeel.cpp
@@ -381,9 +381,23 @@ static bool shouldPeelLastIteration(Loop &L, CmpPredicate Pred,
   const SCEV *ValAtSecondToLastIter = LeftAR->evaluateAtIteration(
       SE.getMinusSCEV(BTC, SE.getOne(BTC->getType())), SE);
 
-  return SE.isKnownPredicate(ICmpInst::getInversePredicate(Pred), ValAtLastIter,
-                             RightSCEV) &&
-         SE.isKnownPredicate(Pred, ValAtSecondToLastIter, RightSCEV);
+  CmpPredicate InvPred = ICmpInst::getInversePredicate(Pred);
+  if (!SE.isKnownPredicate(InvPred, ValAtLastIter, RightSCEV) ||
+      !SE.isKnownPredicate(Pred, ValAtSecondToLastIter, RightSCEV))
+    return false;
+
+  // For a monotonic predicate, we've found the single transition point and
+  // don't need to check further.
+  if (!ICmpInst::isEquality(Pred))
+    return true;
+
+  // For an equality, the condition can toggle twice.  For the peeling to be
+  // profitable, we need to know that this is the first toggle.  The two
+  // toggles are separate by one iteration.  If the BTC isn't at least two
+  // this will overflow, but that's okay correctness wise.
+  const SCEV *ValAtPriorIter = LeftAR->evaluateAtIteration(
+      SE.getMinusSCEV(BTC, SE.getConstant(BTC->getType(), 2)), SE);
+  return SE.isKnownPredicate(Pred, ValAtPriorIter, RightSCEV);
 }
 
 // Return the number of iterations to peel off from the beginning and end of the
diff --git a/llvm/test/Transforms/LoopUnroll/peel-last-iteration-with-variable-trip-count.ll b/llvm/test/Transforms/LoopUnroll/peel-last-iteration-with-variable-trip-count.ll
index 5704be33f0f0b..34b53c54d9bc6 100644
--- a/llvm/test/Transforms/LoopUnroll/peel-last-iteration-with-variable-trip-count.ll
+++ b/llvm/test/Transforms/LoopUnroll/peel-last-iteration-with-variable-trip-count.ll
@@ -176,39 +176,18 @@ define i32 @peel_last_with_trip_count_check_lcssa_phi_cmp_not_invar2(i32 %n) {
 ; CHECK-SAME: i32 [[N:%.*]]) {
 ; CHECK-NEXT:  [[ENTRY:.*]]:
 ; CHECK-NEXT:    [[SUB:%.*]] = add i32 [[N]], -2
-; CHECK-NEXT:    [[TMP0:%.*]] = add i32 [[N]], -1
-; CHECK-NEXT:    [[TMP1:%.*]] = icmp ne i32 [[TMP0]], 0
-; CHECK-NEXT:    br i1 [[TMP1]], label %[[ENTRY_SPLIT:.*]], label %[[EXIT_PEEL_BEGIN:.*]]
-; CHECK:       [[ENTRY_SPLIT]]:
 ; CHECK-NEXT:    br label %[[LOOP:.*]]
 ; CHECK:       [[LOOP]]:
-; CHECK-NEXT:    [[IV:%.*]] = phi i32 [ 0, %[[ENTRY_SPLIT]] ], [ [[IV_NEXT1:%.*]], %[[LOOP]] ]
-; CHECK-NEXT:    [[C:%.*]] = icmp ne i32 [[IV]], [[SUB]]
-; CHECK-NEXT:    [[SEL:%.*]] = select i1 [[C]], i32 1, i32 2
-; CHECK-NEXT:    call void @foo(i32 [[SEL]])
-; CHECK-NEXT:    [[IV_NEXT1]] = add nuw i32 [[IV]], 1
-; CHECK-NEXT:    [[TMP2:%.*]] = sub i32 [[N]], 1
-; CHECK-NEXT:    [[EC1:%.*]] = icmp ne i32 [[IV_NEXT1]], [[TMP2]]
-; CHECK-NEXT:    br i1 [[EC1]], label %[[LOOP]], label %[[EXIT_PEEL_BEGIN_LOOPEXIT:.*]], !llvm.loop [[LOOP2:![0-9]+]]
-; CHECK:       [[EXIT_PEEL_BEGIN_LOOPEXIT]]:
-; CHECK-NEXT:    [[DOTPH:%.*]] = phi i32 [ [[IV_NEXT1]], %[[LOOP]] ]
-; CHECK-NEXT:    br label %[[EXIT_PEEL_BEGIN]]
-; CHECK:       [[EXIT_PEEL_BEGIN]]:
-; CHECK-NEXT:    [[TMP3:%.*]] = phi i32 [ 0, %[[ENTRY]] ], [ [[DOTPH]], %[[EXIT_PEEL_BEGIN_LOOPEXIT]] ]
-; CHECK-NEXT:    br label %[[LOOP_PEEL:.*]]
-; CHECK:       [[LOOP_PEEL]]:
+; CHECK-NEXT:    [[TMP3:%.*]] = phi i32 [ 0, %[[ENTRY]] ], [ [[IV_NEXT:%.*]], %[[LOOP]] ]
 ; CHECK-NEXT:    [[C_PEEL:%.*]] = icmp ne i32 [[TMP3]], [[SUB]]
 ; CHECK-NEXT:    [[SEL_LCSSA:%.*]] = select i1 [[C_PEEL]], i32 1, i32 2
 ; CHECK-NEXT:    call void @foo(i32 [[SEL_LCSSA]])
-; CHECK-NEXT:    [[IV_NEXT:%.*]] = add i32 [[TMP3]], 1
+; CHECK-NEXT:    [[IV_NEXT]] = add i32 [[TMP3]], 1
 ; CHECK-NEXT:    [[EC:%.*]] = icmp ne i32 [[IV_NEXT]], [[N]]
-; CHECK-NEXT:    br i1 [[EC]], label %[[EXIT_PEEL_NEXT:.*]], label %[[EXIT_PEEL_NEXT]]
-; CHECK:       [[EXIT_PEEL_NEXT]]:
-; CHECK-NEXT:    br label %[[LOOP_PEEL_NEXT:.*]]
-; CHECK:       [[LOOP_PEEL_NEXT]]:
-; CHECK-NEXT:    br label %[[EXIT:.*]]
+; CHECK-NEXT:    br i1 [[EC]], label %[[LOOP]], label %[[EXIT:.*]]
 ; CHECK:       [[EXIT]]:
-; CHECK-NEXT:    ret i32 [[SEL_LCSSA]]
+; CHECK-NEXT:    [[SEL_LCSSA1:%.*]] = phi i32 [ [[SEL_LCSSA]], %[[LOOP]] ]
+; CHECK-NEXT:    ret i32 [[SEL_LCSSA1]]
 ;
 entry:
   %sub = add i32 %n, -2
@@ -245,7 +224,7 @@ define i32 @peel_last_with_trip_count_check_lcssa_phi_cmp_not_invar3(i32 %n) {
 ; CHECK-NEXT:    [[IV_NEXT]] = add nuw i32 [[IV]], 1
 ; CHECK-NEXT:    [[TMP1:%.*]] = sub i32 [[N]], 1
 ; CHECK-NEXT:    [[EC:%.*]] = icmp ne i32 [[IV_NEXT]], [[TMP1]]
-; CHECK-NEXT:    br i1 [[EC]], label %[[LOOP]], label %[[EXIT_PEEL_BEGIN_LOOPEXIT:.*]], !llvm.loop [[LOOP3:![0-9]+]]
+; CHECK-NEXT:    br i1 [[EC]], label %[[LOOP]], label %[[EXIT_PEEL_BEGIN_LOOPEXIT:.*]], !llvm.loop [[LOOP2:![0-9]+]]
 ; CHECK:       [[EXIT_PEEL_BEGIN_LOOPEXIT]]:
 ; CHECK-NEXT:    [[DOTPH:%.*]] = phi i32 [ [[IV_NEXT]], %[[LOOP]] ]
 ; CHECK-NEXT:    br label %[[EXIT_PEEL_BEGIN]]
@@ -363,7 +342,7 @@ define void @peel_last_with_trip_count_check_nested_loop(i32 %n) {
 ; CHECK-NEXT:    [[IV_NEXT1]] = add nuw i32 [[IV1]], 1
 ; CHECK-NEXT:    [[TMP2:%.*]] = sub i32 [[N]], 1
 ; CHECK-NEXT:    [[EXITCOND_NOT1:%.*]] = icmp eq i32 [[IV_NEXT1]], [[TMP2]]
-; CHECK-NEXT:    br i1 [[EXITCOND_NOT1]], label %[[OUTER_HEADER_LOOPEXIT_PEEL_BEGIN_LOOPEXIT]], label %[[INNER_HEADER]], !llvm.loop [[LOOP4:![0-9]+]]
+; CHECK-NEXT:    br i1 [[EXITCOND_NOT1]], label %[[OUTER_HEADER_LOOPEXIT_PEEL_BEGIN_LOOPEXIT]], label %[[INNER_HEADER]], !llvm.loop [[LOOP3:![0-9]+]]
 ;
 entry:
   %sub = add i32 %n, -1
@@ -392,5 +371,4 @@ inner.latch:
 ; CHECK: [[META1]] = !{!"llvm.loop.peeled.count", i32 1}
 ; CHECK: [[LOOP2]] = distinct !{[[LOOP2]], [[META1]]}
 ; CHECK: [[LOOP3]] = distinct !{[[LOOP3]], [[META1]]}
-; CHECK: [[LOOP4]] = distinct !{[[LOOP4]], [[META1]]}
 ;.