A method and system for analyzing cycles per instruction (CPI) performance in a processor. A completion table corresponds to the instructions in a group to be processed by the processor. An empty completion table indicates that there has been some type of catastrophe that caused a table flush. While the table is empty, a performance monitoring counter (PMC), located in a performance monitoring unit (PMU) in the processor, counts the number of clock cycles that the table is empty. Preferably, a separate PMC is utilized depending on the reason that the completion table is empty. A second PMC likewise counts the number of clock cycles spent re-filling the empty completion table. A third PMC counts the number of clock cycles spent actually executing the instructions in the completion table. The information in the PMC's can be used to evaluate the true cause for degradation of CPI performance.