diff --git a/drivers/net/can/usb/peak_usb/pcan_usb_core.c b/drivers/net/can/usb/peak_usb/pcan_usb_core.c
index d91df34e7fa8..c2764799f9ef 100644
--- a/drivers/net/can/usb/peak_usb/pcan_usb_core.c
+++ b/drivers/net/can/usb/peak_usb/pcan_usb_core.c
@@ -130,14 +130,55 @@ void peak_usb_get_ts_time(struct peak_time_ref *time_ref, u32 ts, ktime_t *time)
 	/* protect from getting time before setting now */
 	if (ktime_to_ns(time_ref->tv_host)) {
 		u64 delta_us;
+		s64 delta_ts = 0;
 
-		delta_us = ts - time_ref->ts_dev_2;
-		if (ts < time_ref->ts_dev_2)
-			delta_us &= (1 << time_ref->adapter->ts_used_bits) - 1;
+		/* General case: dev_ts_1 < dev_ts_2 < ts, with:
+		 *
+		 * - dev_ts_1 = previous sync timestamp
+		 * - dev_ts_2 = last sync timestamp
+		 * - ts = event timestamp
+		 * - ts_period = known sync period (theoretical)
+		 *             ~ dev_ts2 - dev_ts1
+		 * *but*:
+		 *
+		 * - time counters wrap (see adapter->ts_used_bits)
+		 * - sometimes, dev_ts_1 < ts < dev_ts2
+		 *
+		 * "normal" case (sync time counters increase):
+		 * must take into account case when ts wraps (tsw)
+		 *
+		 *      < ts_period > <          >
+		 *     |             |            |
+		 *  ---+--------+----+-------0-+--+-->
+		 *     ts_dev_1 |    ts_dev_2  |
+		 *              ts             tsw
+		 */
+		if (time_ref->ts_dev_1 < time_ref->ts_dev_2) {
+			/* case when event time (tsw) wraps */
+			if (ts < time_ref->ts_dev_1)
+				delta_ts = 1 << time_ref->adapter->ts_used_bits;
 
-		delta_us += time_ref->ts_total;
+		/* Otherwise, sync time counter (ts_dev_2) has wrapped:
+		 * handle case when event time (tsn) hasn't.
+		 *
+		 *      < ts_period > <          >
+		 *     |             |            |
+		 *  ---+--------+--0-+---------+--+-->
+		 *     ts_dev_1 |    ts_dev_2  |
+		 *              tsn            ts
+		 */
+		} else if (time_ref->ts_dev_1 < ts) {
+			delta_ts = -(1 << time_ref->adapter->ts_used_bits);
+		}
 
-		delta_us *= time_ref->adapter->us_per_ts_scale;
+		/* add delay between last sync and event timestamps */
+		delta_ts += (signed int)(ts - time_ref->ts_dev_2);
+
+		/* add time from beginning to last sync */
+		delta_ts += time_ref->ts_total;
+
+		/* convert ticks number into microseconds */
+		delta_us = delta_ts * time_ref->adapter->us_per_ts_scale;
 		delta_us >>= time_ref->adapter->us_per_ts_shift;
 
 		*time = ktime_add_us(time_ref->tv_host_0, delta_us);