diff --git a/target/arm/helper.c b/target/arm/helper.c
index 7ee614c04f04278b4002e46c02cecead49451d3a..cae2b2649d4759eeb40d1a2cc1f82ac419856016 100644
--- a/target/arm/helper.c
+++ b/target/arm/helper.c
@@ -6858,7 +6858,7 @@ static void v7m_exception_taken(ARMCPU *cpu, uint32_t lr, bool dotailchain,
                  * not already saved.
                  */
                 if (lr & R_V7M_EXCRET_DCRS_MASK &&
-                    !(dotailchain && (lr & R_V7M_EXCRET_ES_MASK))) {
+                    !(dotailchain && !(lr & R_V7M_EXCRET_ES_MASK))) {
                     push_failed = v7m_push_callee_stack(cpu, lr, dotailchain,
                                                         ignore_stackfaults);
                 }