diff --git a/tools/perf/Makefile b/tools/perf/Makefile
index 17a3692397c5..26f626d45a9e 100644
--- a/tools/perf/Makefile
+++ b/tools/perf/Makefile
@@ -605,33 +605,35 @@ endif
 
 ifdef NO_DEMANGLE
 	BASIC_CFLAGS += -DNO_DEMANGLE
-else ifdef HAVE_CPLUS_DEMANGLE
-	EXTLIBS += -liberty
-	BASIC_CFLAGS += -DHAVE_CPLUS_DEMANGLE
 else
-	FLAGS_BFD=$(ALL_CFLAGS) $(ALL_LDFLAGS) $(EXTLIBS) -lbfd
-	has_bfd := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD))
-	ifeq ($(has_bfd),y)
-		EXTLIBS += -lbfd
-	else
-		FLAGS_BFD_IBERTY=$(FLAGS_BFD) -liberty
-		has_bfd_iberty := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD_IBERTY))
-		ifeq ($(has_bfd_iberty),y)
-			EXTLIBS += -lbfd -liberty
+        ifdef HAVE_CPLUS_DEMANGLE
+		EXTLIBS += -liberty
+		BASIC_CFLAGS += -DHAVE_CPLUS_DEMANGLE
+        else
+		FLAGS_BFD=$(ALL_CFLAGS) $(ALL_LDFLAGS) $(EXTLIBS) -lbfd
+		has_bfd := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD))
+		ifeq ($(has_bfd),y)
+			EXTLIBS += -lbfd
 		else
-			FLAGS_BFD_IBERTY_Z=$(FLAGS_BFD_IBERTY) -lz
-			has_bfd_iberty_z := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD_IBERTY_Z))
-			ifeq ($(has_bfd_iberty_z),y)
-				EXTLIBS += -lbfd -liberty -lz
+			FLAGS_BFD_IBERTY=$(FLAGS_BFD) -liberty
+			has_bfd_iberty := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD_IBERTY))
+			ifeq ($(has_bfd_iberty),y)
+				EXTLIBS += -lbfd -liberty
 			else
-				FLAGS_CPLUS_DEMANGLE=$(ALL_CFLAGS) $(ALL_LDFLAGS) $(EXTLIBS) -liberty
-				has_cplus_demangle := $(call try-cc,$(SOURCE_CPLUS_DEMANGLE),$(FLAGS_CPLUS_DEMANGLE))
-				ifeq ($(has_cplus_demangle),y)
-					EXTLIBS += -liberty
-					BASIC_CFLAGS += -DHAVE_CPLUS_DEMANGLE
+				FLAGS_BFD_IBERTY_Z=$(FLAGS_BFD_IBERTY) -lz
+				has_bfd_iberty_z := $(call try-cc,$(SOURCE_BFD),$(FLAGS_BFD_IBERTY_Z))
+				ifeq ($(has_bfd_iberty_z),y)
+					EXTLIBS += -lbfd -liberty -lz
 				else
-					msg := $(warning No bfd.h/libbfd found, install binutils-dev[el]/zlib-static to gain symbol demangling)
-					BASIC_CFLAGS += -DNO_DEMANGLE
+					FLAGS_CPLUS_DEMANGLE=$(ALL_CFLAGS) $(ALL_LDFLAGS) $(EXTLIBS) -liberty
+					has_cplus_demangle := $(call try-cc,$(SOURCE_CPLUS_DEMANGLE),$(FLAGS_CPLUS_DEMANGLE))
+					ifeq ($(has_cplus_demangle),y)
+						EXTLIBS += -liberty
+						BASIC_CFLAGS += -DHAVE_CPLUS_DEMANGLE
+					else
+						msg := $(warning No bfd.h/libbfd found, install binutils-dev[el]/zlib-static to gain symbol demangling)
+						BASIC_CFLAGS += -DNO_DEMANGLE
+					endif
 				endif
 			endif
 		endif