A processing device implementing an elapsed cycle timer in last branch records (LBRs) is disclosed. A processing device of the disclosure includes a last branch record (LBR) counter to iterate with each cycle of the processing device and an LBR structure communicably coupled to the LBR counter. The LBR structure comprises a plurality of LBR entries. Furthermore, an LBR entry of the plurality of LBR entries comprises an address instruction pointer (IP) of a branch instruction executed by the processing device, an address IP of a target of the branch instruction, and an elapsed time field that stores a value of the LBR counter when the LBR entry is created.