diff --git a/packages/react-reconciler/src/ReactDebugFiberPerf.js b/packages/react-reconciler/src/ReactDebugFiberPerf.js
index ba238c49d1e9a..cc5dfc9ef6c00 100644
--- a/packages/react-reconciler/src/ReactDebugFiberPerf.js
+++ b/packages/react-reconciler/src/ReactDebugFiberPerf.js
@@ -121,8 +121,7 @@ const getFiberLabel = (
 
 const getFiberName = (fiber: Fiber): string | null => {
   if (fiber.tag === SimpleMemoComponent) {
-    const innerName = getComponentName(fiber.type);
-    return `Memo${innerName !== null ? `(${innerName})` : ''}`;
+    return getComponentName(fiber.elementType);
   }
 
   return getComponentName(fiber.type);
diff --git a/packages/react-reconciler/src/__tests__/ReactIncrementalPerf-test.internal.js b/packages/react-reconciler/src/__tests__/ReactIncrementalPerf-test.internal.js
index 2474c58cfa4e2..ca5506965c72b 100644
--- a/packages/react-reconciler/src/__tests__/ReactIncrementalPerf-test.internal.js
+++ b/packages/react-reconciler/src/__tests__/ReactIncrementalPerf-test.internal.js
@@ -573,9 +573,14 @@ describe('ReactDebugFiberPerf', () => {
     const MemoFoo = React.memo(function Foo() {
       return <div />;
     });
+    const MemoBar = React.memo(function Bar() {
+      return <span />;
+    });
+    MemoBar.displayName = 'NamedBar';
     ReactNoop.render(
       <Parent>
         <MemoFoo />
+        <MemoBar />
       </Parent>,
     );
     expect(Scheduler).toFlushWithoutYielding();
diff --git a/packages/react-reconciler/src/__tests__/__snapshots__/ReactIncrementalPerf-test.internal.js.snap b/packages/react-reconciler/src/__tests__/__snapshots__/ReactIncrementalPerf-test.internal.js.snap
index a3ff5fe60eaca..b195bf49a1f79 100644
--- a/packages/react-reconciler/src/__tests__/__snapshots__/ReactIncrementalPerf-test.internal.js.snap
+++ b/packages/react-reconciler/src/__tests__/__snapshots__/ReactIncrementalPerf-test.internal.js.snap
@@ -380,6 +380,7 @@ exports[`ReactDebugFiberPerf supports memo 1`] = `
 "⚛ (React Tree Reconciliation: Completed Root)
   ⚛ Parent [mount]
     ⚛ Memo(Foo) [mount]
+    ⚛ NamedBar [mount]
 
 ⚛ (Committing Changes)
   ⚛ (Committing Snapshot Effects: 0 Total)