diff --git a/include/net/page_pool.h b/include/net/page_pool.h
index 79a805542d0f..97c3c19872ff 100644
--- a/include/net/page_pool.h
+++ b/include/net/page_pool.h
@@ -201,21 +201,67 @@ static inline void page_pool_put_page_bulk(struct page_pool *pool, void **data,
 }
 #endif
 
-void page_pool_put_page(struct page_pool *pool, struct page *page,
-			unsigned int dma_sync_size, bool allow_direct);
+void page_pool_put_defragged_page(struct page_pool *pool, struct page *page,
+				  unsigned int dma_sync_size,
+				  bool allow_direct);
 
-/* Same as above but will try to sync the entire area pool->max_len */
-static inline void page_pool_put_full_page(struct page_pool *pool,
-					   struct page *page, bool allow_direct)
+static inline void page_pool_fragment_page(struct page *page, long nr)
+{
+	atomic_long_set(&page->pp_frag_count, nr);
+}
+
+static inline long page_pool_defrag_page(struct page *page, long nr)
+{
+	long ret;
+
+	/* If nr == pp_frag_count then we have cleared all remaining
+	 * references to the page. No need to actually overwrite it, instead
+	 * we can leave this to be overwritten by the calling function.
+	 *
+	 * The main advantage to doing this is that an atomic_read is
+	 * generally a much cheaper operation than an atomic update,
+	 * especially when dealing with a page that may be partitioned
+	 * into only 2 or 3 pieces.
+	 */
+	if (atomic_long_read(&page->pp_frag_count) == nr)
+		return 0;
+
+	ret = atomic_long_sub_return(nr, &page->pp_frag_count);
+	WARN_ON(ret < 0);
+	return ret;
+}
+
+static inline bool page_pool_is_last_frag(struct page_pool *pool,
+					  struct page *page)
+{
+	/* If fragments aren't enabled or count is 0 we were the last user */
+	return !(pool->p.flags & PP_FLAG_PAGE_FRAG) ||
+	       (page_pool_defrag_page(page, 1) == 0);
+}
+
+static inline void page_pool_put_page(struct page_pool *pool,
+				      struct page *page,
+				      unsigned int dma_sync_size,
+				      bool allow_direct)
 {
 	/* When page_pool isn't compiled-in, net/core/xdp.c doesn't
 	 * allow registering MEM_TYPE_PAGE_POOL, but shield linker.
 	 */
 #ifdef CONFIG_PAGE_POOL
-	page_pool_put_page(pool, page, -1, allow_direct);
+	if (!page_pool_is_last_frag(pool, page))
+		return;
+
+	page_pool_put_defragged_page(pool, page, dma_sync_size, allow_direct);
 #endif
 }
 
+/* Same as above but will try to sync the entire area pool->max_len */
+static inline void page_pool_put_full_page(struct page_pool *pool,
+					   struct page *page, bool allow_direct)
+{
+	page_pool_put_page(pool, page, -1, allow_direct);
+}
+
 /* Same as above but the caller must guarantee safe context. e.g NAPI */
 static inline void page_pool_recycle_direct(struct page_pool *pool,
 					    struct page *page)
@@ -243,30 +289,6 @@ static inline void page_pool_set_dma_addr(struct page *page, dma_addr_t addr)
 		page->dma_addr_upper = upper_32_bits(addr);
 }
 
-static inline void page_pool_set_frag_count(struct page *page, long nr)
-{
-	atomic_long_set(&page->pp_frag_count, nr);
-}
-
-static inline long page_pool_atomic_sub_frag_count_return(struct page *page,
-							  long nr)
-{
-	long ret;
-
-	/* As suggested by Alexander, atomic_long_read() may cover up the
-	 * reference count errors, so avoid calling atomic_long_read() in
-	 * the cases of freeing or draining the page_frags, where we would
-	 * not expect it to match or that are slowpath anyway.
-	 */
-	if (__builtin_constant_p(nr) &&
-	    atomic_long_read(&page->pp_frag_count) == nr)
-		return 0;
-
-	ret = atomic_long_sub_return(nr, &page->pp_frag_count);
-	WARN_ON(ret < 0);
-	return ret;
-}
-
 static inline bool is_page_pool_compiled_in(void)
 {
 #ifdef CONFIG_PAGE_POOL
diff --git a/net/core/page_pool.c b/net/core/page_pool.c
index bd62c01a2ec3..e25d359d84d9 100644
--- a/net/core/page_pool.c
+++ b/net/core/page_pool.c
@@ -423,11 +423,6 @@ static __always_inline struct page *
 __page_pool_put_page(struct page_pool *pool, struct page *page,
 		     unsigned int dma_sync_size, bool allow_direct)
 {
-	/* It is not the last user for the page frag case */
-	if (pool->p.flags & PP_FLAG_PAGE_FRAG &&
-	    page_pool_atomic_sub_frag_count_return(page, 1))
-		return NULL;
-
 	/* This allocator is optimized for the XDP mode that uses
 	 * one-frame-per-page, but have fallbacks that act like the
 	 * regular page allocator APIs.
@@ -471,8 +466,8 @@ __page_pool_put_page(struct page_pool *pool, struct page *page,
 	return NULL;
 }
 
-void page_pool_put_page(struct page_pool *pool, struct page *page,
-			unsigned int dma_sync_size, bool allow_direct)
+void page_pool_put_defragged_page(struct page_pool *pool, struct page *page,
+				  unsigned int dma_sync_size, bool allow_direct)
 {
 	page = __page_pool_put_page(pool, page, dma_sync_size, allow_direct);
 	if (page && !page_pool_recycle_in_ring(pool, page)) {
@@ -480,7 +475,7 @@ void page_pool_put_page(struct page_pool *pool, struct page *page,
 		page_pool_return_page(pool, page);
 	}
 }
-EXPORT_SYMBOL(page_pool_put_page);
+EXPORT_SYMBOL(page_pool_put_defragged_page);
 
 /* Caller must not use data area after call, as this function overwrites it */
 void page_pool_put_page_bulk(struct page_pool *pool, void **data,
@@ -491,6 +486,10 @@ void page_pool_put_page_bulk(struct page_pool *pool, void **data,
 	for (i = 0; i < count; i++) {
 		struct page *page = virt_to_head_page(data[i]);
 
+		/* It is not the last user for the page frag case */
+		if (!page_pool_is_last_frag(pool, page))
+			continue;
+
 		page = __page_pool_put_page(pool, page, -1, false);
 		/* Approved for bulk recycling in ptr_ring cache */
 		if (page)
@@ -526,8 +525,7 @@ static struct page *page_pool_drain_frag(struct page_pool *pool,
 	long drain_count = BIAS_MAX - pool->frag_users;
 
 	/* Some user is still using the page frag */
-	if (likely(page_pool_atomic_sub_frag_count_return(page,
-							  drain_count)))
+	if (likely(page_pool_defrag_page(page, drain_count)))
 		return NULL;
 
 	if (page_ref_count(page) == 1 && !page_is_pfmemalloc(page)) {
@@ -548,8 +546,7 @@ static void page_pool_free_frag(struct page_pool *pool)
 
 	pool->frag_page = NULL;
 
-	if (!page ||
-	    page_pool_atomic_sub_frag_count_return(page, drain_count))
+	if (!page || page_pool_defrag_page(page, drain_count))
 		return;
 
 	page_pool_return_page(pool, page);
@@ -588,7 +585,7 @@ frag_reset:
 		pool->frag_users = 1;
 		*offset = 0;
 		pool->frag_offset = size;
-		page_pool_set_frag_count(page, BIAS_MAX);
+		page_pool_fragment_page(page, BIAS_MAX);
 		return page;
 	}