diff --git a/services/surfaceflinger/Scheduler/Android.bp b/services/surfaceflinger/Scheduler/Android.bp
index d5d8688..6d2586a 100644
--- a/services/surfaceflinger/Scheduler/Android.bp
+++ b/services/surfaceflinger/Scheduler/Android.bp
@@ -40,6 +40,7 @@
     name: "libscheduler",
     defaults: ["libscheduler_defaults"],
     srcs: [
+        "src/FrameTargeter.cpp",
         "src/PresentLatencyTracker.cpp",
         "src/Timer.cpp",
     ],
@@ -52,6 +53,7 @@
     test_suites: ["device-tests"],
     defaults: ["libscheduler_defaults"],
     srcs: [
+        "tests/FrameTargeterTest.cpp",
         "tests/PresentLatencyTrackerTest.cpp",
         "tests/TimerTest.cpp",
     ],
diff --git a/services/surfaceflinger/Scheduler/Scheduler.cpp b/services/surfaceflinger/Scheduler/Scheduler.cpp
index 918d401..41639b6 100644
--- a/services/surfaceflinger/Scheduler/Scheduler.cpp
+++ b/services/surfaceflinger/Scheduler/Scheduler.cpp
@@ -171,14 +171,21 @@
 
 void Scheduler::onFrameSignal(ICompositor& compositor, VsyncId vsyncId,
                               TimePoint expectedVsyncTime) {
-    const TimePoint frameTime = SchedulerClock::now();
+    mPacesetterFrameTargeter.beginFrame({.frameBeginTime = SchedulerClock::now(),
+                                         .vsyncId = vsyncId,
+                                         .expectedVsyncTime = expectedVsyncTime,
+                                         .sfWorkDuration =
+                                                 mVsyncModulator->getVsyncConfig().sfWorkDuration},
+                                        *getVsyncSchedule());
 
-    if (!compositor.commit(frameTime, vsyncId, expectedVsyncTime)) {
+    if (!compositor.commit(mPacesetterFrameTargeter.target())) {
         return;
     }
 
-    compositor.composite(frameTime, vsyncId);
+    const auto compositeResult = compositor.composite(mPacesetterFrameTargeter);
     compositor.sample();
+
+    mPacesetterFrameTargeter.endFrame(compositeResult);
 }
 
 std::optional<Fps> Scheduler::getFrameRateOverride(uid_t uid) const {
@@ -188,23 +195,23 @@
             .getFrameRateOverrideForUid(uid, supportsFrameRateOverrideByContent);
 }
 
-bool Scheduler::isVsyncValid(TimePoint expectedVsyncTimestamp, uid_t uid) const {
+bool Scheduler::isVsyncValid(TimePoint expectedVsyncTime, uid_t uid) const {
     const auto frameRate = getFrameRateOverride(uid);
     if (!frameRate.has_value()) {
         return true;
     }
 
     ATRACE_FORMAT("%s uid: %d frameRate: %s", __func__, uid, to_string(*frameRate).c_str());
-    return getVsyncSchedule()->getTracker().isVSyncInPhase(expectedVsyncTimestamp.ns(), *frameRate);
+    return getVsyncSchedule()->getTracker().isVSyncInPhase(expectedVsyncTime.ns(), *frameRate);
 }
 
-bool Scheduler::isVsyncInPhase(TimePoint timePoint, const Fps frameRate) const {
-    return getVsyncSchedule()->getTracker().isVSyncInPhase(timePoint.ns(), frameRate);
+bool Scheduler::isVsyncInPhase(TimePoint expectedVsyncTime, Fps frameRate) const {
+    return getVsyncSchedule()->getTracker().isVSyncInPhase(expectedVsyncTime.ns(), frameRate);
 }
 
 impl::EventThread::ThrottleVsyncCallback Scheduler::makeThrottleVsyncCallback() const {
-    return [this](nsecs_t expectedVsyncTimestamp, uid_t uid) {
-        return !isVsyncValid(TimePoint::fromNs(expectedVsyncTimestamp), uid);
+    return [this](nsecs_t expectedVsyncTime, uid_t uid) {
+        return !isVsyncValid(TimePoint::fromNs(expectedVsyncTime), uid);
     };
 }
 
@@ -716,6 +723,8 @@
 
     mFrameRateOverrideMappings.dump(dumper);
     dumper.eol();
+
+    mPacesetterFrameTargeter.dump(dumper);
 }
 
 void Scheduler::dumpVsync(std::string& out) const {
diff --git a/services/surfaceflinger/Scheduler/Scheduler.h b/services/surfaceflinger/Scheduler/Scheduler.h
index a1354fa..17e9cea 100644
--- a/services/surfaceflinger/Scheduler/Scheduler.h
+++ b/services/surfaceflinger/Scheduler/Scheduler.h
@@ -35,6 +35,7 @@
 #include <ftl/fake_guard.h>
 #include <ftl/optional.h>
 #include <scheduler/Features.h>
+#include <scheduler/FrameTargeter.h>
 #include <scheduler/Time.h>
 #include <scheduler/VsyncConfig.h>
 #include <ui/DisplayId.h>
@@ -249,9 +250,11 @@
         return std::const_pointer_cast<VsyncSchedule>(std::as_const(*this).getVsyncSchedule(idOpt));
     }
 
+    const FrameTarget& pacesetterFrameTarget() { return mPacesetterFrameTargeter.target(); }
+
     // Returns true if a given vsync timestamp is considered valid vsync
     // for a given uid
-    bool isVsyncValid(TimePoint expectedVsyncTimestamp, uid_t uid) const;
+    bool isVsyncValid(TimePoint expectedVsyncTime, uid_t uid) const;
 
     bool isVsyncInPhase(TimePoint expectedVsyncTime, Fps frameRate) const;
 
@@ -446,6 +449,8 @@
     ftl::Optional<PhysicalDisplayId> mPacesetterDisplayId GUARDED_BY(mDisplayLock)
             GUARDED_BY(kMainThreadContext);
 
+    FrameTargeter mPacesetterFrameTargeter{mFeatures.test(Feature::kBackpressureGpuComposition)};
+
     ftl::Optional<DisplayRef> pacesetterDisplayLocked() REQUIRES(mDisplayLock) {
         return static_cast<const Scheduler*>(this)->pacesetterDisplayLocked().transform(
                 [](const Display& display) { return std::ref(const_cast<Display&>(display)); });
diff --git a/services/surfaceflinger/Scheduler/VsyncSchedule.h b/services/surfaceflinger/Scheduler/VsyncSchedule.h
index 556ef80..c037ac8 100644
--- a/services/surfaceflinger/Scheduler/VsyncSchedule.h
+++ b/services/surfaceflinger/Scheduler/VsyncSchedule.h
@@ -20,14 +20,17 @@
 #include <memory>
 #include <string>
 
-#include <ThreadContext.h>
 #include <android-base/thread_annotations.h>
 #include <ftl/enum.h>
 #include <ftl/optional.h>
-#include <scheduler/Features.h>
-#include <scheduler/Time.h>
 #include <ui/DisplayId.h>
 
+#include <scheduler/Features.h>
+#include <scheduler/IVsyncSource.h>
+#include <scheduler/Time.h>
+
+#include "ThreadContext.h"
+
 namespace android {
 class EventThreadTest;
 class VsyncScheduleTest;
@@ -48,15 +51,16 @@
 using VsyncTracker = VSyncTracker;
 
 // Schedule that synchronizes to hardware VSYNC of a physical display.
-class VsyncSchedule {
+class VsyncSchedule final : public IVsyncSource {
 public:
     using RequestHardwareVsync = std::function<void(PhysicalDisplayId, bool enabled)>;
 
     VsyncSchedule(PhysicalDisplayId, FeatureFlags, RequestHardwareVsync);
     ~VsyncSchedule();
 
-    Period period() const;
-    TimePoint vsyncDeadlineAfter(TimePoint) const;
+    // IVsyncSource overrides:
+    Period period() const override;
+    TimePoint vsyncDeadlineAfter(TimePoint) const override;
 
     // Inform the schedule that the period is changing and the schedule needs to recalibrate
     // itself. The schedule will end the period transition internally. This will
diff --git a/services/surfaceflinger/Scheduler/include/scheduler/Features.h b/services/surfaceflinger/Scheduler/include/scheduler/Features.h
index b3a6a60..200407d 100644
--- a/services/surfaceflinger/Scheduler/include/scheduler/Features.h
+++ b/services/surfaceflinger/Scheduler/include/scheduler/Features.h
@@ -23,10 +23,11 @@
 namespace android::scheduler {
 
 enum class Feature : std::uint8_t {
-    kPresentFences = 0b1,
-    kKernelIdleTimer = 0b10,
-    kContentDetection = 0b100,
-    kTracePredictedVsync = 0b1000,
+    kPresentFences = 1 << 0,
+    kKernelIdleTimer = 1 << 1,
+    kContentDetection = 1 << 2,
+    kTracePredictedVsync = 1 << 3,
+    kBackpressureGpuComposition = 1 << 4,
 };
 
 using FeatureFlags = ftl::Flags<Feature>;
diff --git a/services/surfaceflinger/Scheduler/include/scheduler/FrameTargeter.h b/services/surfaceflinger/Scheduler/include/scheduler/FrameTargeter.h
new file mode 100644
index 0000000..85f2e64
--- /dev/null
+++ b/services/surfaceflinger/Scheduler/include/scheduler/FrameTargeter.h
@@ -0,0 +1,147 @@
+/*
+ * Copyright 2023 The Android Open Source Project
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#pragma once
+
+#include <array>
+#include <atomic>
+#include <memory>
+
+#include <ui/Fence.h>
+#include <ui/FenceTime.h>
+
+#include <scheduler/Time.h>
+#include <scheduler/VsyncId.h>
+#include <scheduler/interface/CompositeResult.h>
+
+// TODO(b/185536303): Pull to FTL.
+#include "../../../TracedOrdinal.h"
+#include "../../../Utils/Dumper.h"
+
+namespace android::scheduler {
+
+struct IVsyncSource;
+
+// Read-only interface to the metrics computed by FrameTargeter for the latest frame.
+class FrameTarget {
+public:
+    VsyncId vsyncId() const { return mVsyncId; }
+
+    // The time when the frame actually began, as opposed to when it had been scheduled to begin.
+    TimePoint frameBeginTime() const { return mFrameBeginTime; }
+
+    // Relative to when the frame actually began, as opposed to when it had been scheduled to begin.
+    Duration expectedFrameDuration() const { return mExpectedPresentTime - mFrameBeginTime; }
+
+    TimePoint expectedPresentTime() const { return mExpectedPresentTime; }
+
+    // The time of the VSYNC that preceded this frame. See `presentFenceForPastVsync` for details.
+    TimePoint pastVsyncTime(Period vsyncPeriod) const;
+
+    // Equivalent to `pastVsyncTime` unless running N VSYNCs ahead.
+    TimePoint previousFrameVsyncTime(Period vsyncPeriod) const {
+        return mExpectedPresentTime - vsyncPeriod;
+    }
+
+    // The present fence for the frame that had targeted the most recent VSYNC before this frame.
+    // If the target VSYNC for any given frame is more than `vsyncPeriod` in the future, then the
+    // VSYNC of at least one previous frame has not yet passed. In other words, this is NOT the
+    // `presentFenceForPreviousFrame` if running N VSYNCs ahead, but the one that should have been
+    // signaled by now (unless that frame missed).
+    const FenceTimePtr& presentFenceForPastVsync(Period vsyncPeriod) const;
+
+    // Equivalent to `presentFenceForPastVsync` unless running N VSYNCs ahead.
+    const FenceTimePtr& presentFenceForPreviousFrame() const {
+        return mPresentFences.front().fenceTime;
+    }
+
+    bool wouldPresentEarly(Period vsyncPeriod) const;
+
+    bool isFramePending() const { return mFramePending; }
+    bool didMissFrame() const { return mFrameMissed; }
+    bool didMissHwcFrame() const { return mHwcFrameMissed && !mGpuFrameMissed; }
+
+protected:
+    ~FrameTarget() = default;
+
+    VsyncId mVsyncId;
+    TimePoint mFrameBeginTime;
+    TimePoint mExpectedPresentTime;
+
+    TracedOrdinal<bool> mFramePending{"PrevFramePending", false};
+    TracedOrdinal<bool> mFrameMissed{"PrevFrameMissed", false};
+    TracedOrdinal<bool> mHwcFrameMissed{"PrevHwcFrameMissed", false};
+    TracedOrdinal<bool> mGpuFrameMissed{"PrevGpuFrameMissed", false};
+
+    struct FenceWithFenceTime {
+        sp<Fence> fence = Fence::NO_FENCE;
+        FenceTimePtr fenceTime = FenceTime::NO_FENCE;
+    };
+    std::array<FenceWithFenceTime, 2> mPresentFences;
+
+private:
+    template <int N>
+    inline bool targetsVsyncsAhead(Period vsyncPeriod) const {
+        static_assert(N > 1);
+        return expectedFrameDuration() > (N - 1) * vsyncPeriod;
+    }
+};
+
+// Computes a display's per-frame metrics about past/upcoming targeting of present deadlines.
+class FrameTargeter final : private FrameTarget {
+public:
+    explicit FrameTargeter(bool backpressureGpuComposition)
+          : mBackpressureGpuComposition(backpressureGpuComposition) {}
+
+    const FrameTarget& target() const { return *this; }
+
+    struct BeginFrameArgs {
+        TimePoint frameBeginTime;
+        VsyncId vsyncId;
+        TimePoint expectedVsyncTime;
+        Duration sfWorkDuration;
+    };
+
+    void beginFrame(const BeginFrameArgs&, const IVsyncSource&);
+
+    // TODO(b/241285191): Merge with FrameTargeter::endFrame.
+    FenceTimePtr setPresentFence(sp<Fence>);
+
+    void endFrame(const CompositeResult&);
+
+    void dump(utils::Dumper&) const;
+
+private:
+    friend class FrameTargeterTest;
+
+    // For tests.
+    using IsFencePendingFuncPtr = bool (*)(const FenceTimePtr&, int graceTimeMs);
+    void beginFrame(const BeginFrameArgs&, const IVsyncSource&, IsFencePendingFuncPtr);
+    FenceTimePtr setPresentFence(sp<Fence>, FenceTimePtr);
+
+    static bool isFencePending(const FenceTimePtr&, int graceTimeMs);
+
+    const bool mBackpressureGpuComposition;
+
+    TimePoint mScheduledPresentTime;
+    CompositionCoverageFlags mCompositionCoverage;
+
+    std::atomic_uint mFrameMissedCount = 0;
+    std::atomic_uint mHwcFrameMissedCount = 0;
+    std::atomic_uint mGpuFrameMissedCount = 0;
+};
+
+} // namespace android::scheduler
diff --git a/services/surfaceflinger/Scheduler/include/scheduler/IVsyncSource.h b/services/surfaceflinger/Scheduler/include/scheduler/IVsyncSource.h
new file mode 100644
index 0000000..bb2de75
--- /dev/null
+++ b/services/surfaceflinger/Scheduler/include/scheduler/IVsyncSource.h
@@ -0,0 +1,31 @@
+/*
+ * Copyright 2023 The Android Open Source Project
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#pragma once
+
+#include <scheduler/Time.h>
+
+namespace android::scheduler {
+
+struct IVsyncSource {
+    virtual Period period() const = 0;
+    virtual TimePoint vsyncDeadlineAfter(TimePoint) const = 0;
+
+protected:
+    ~IVsyncSource() = default;
+};
+
+} // namespace android::scheduler
diff --git a/services/surfaceflinger/Scheduler/include/scheduler/interface/CompositeResult.h b/services/surfaceflinger/Scheduler/include/scheduler/interface/CompositeResult.h
new file mode 100644
index 0000000..f795f1f
--- /dev/null
+++ b/services/surfaceflinger/Scheduler/include/scheduler/interface/CompositeResult.h
@@ -0,0 +1,27 @@
+/*
+ * Copyright 2023 The Android Open Source Project
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#pragma once
+
+#include <scheduler/interface/CompositionCoverage.h>
+
+namespace android {
+
+struct CompositeResult {
+    CompositionCoverageFlags compositionCoverage;
+};
+
+} // namespace android
diff --git a/services/surfaceflinger/Scheduler/include/scheduler/interface/ICompositor.h b/services/surfaceflinger/Scheduler/include/scheduler/interface/ICompositor.h
index cc41925..2696076 100644
--- a/services/surfaceflinger/Scheduler/include/scheduler/interface/ICompositor.h
+++ b/services/surfaceflinger/Scheduler/include/scheduler/interface/ICompositor.h
@@ -18,8 +18,15 @@
 
 #include <scheduler/Time.h>
 #include <scheduler/VsyncId.h>
+#include <scheduler/interface/CompositeResult.h>
 
 namespace android {
+namespace scheduler {
+
+class FrameTarget;
+class FrameTargeter;
+
+} // namespace scheduler
 
 struct ICompositor {
     // Configures physical displays, processing hotplug and/or mode setting via the Composer HAL.
@@ -27,11 +34,11 @@
 
     // Commits transactions for layers and displays. Returns whether any state has been invalidated,
     // i.e. whether a frame should be composited for each display.
-    virtual bool commit(TimePoint frameTime, VsyncId, TimePoint expectedVsyncTime) = 0;
+    virtual bool commit(const scheduler::FrameTarget&) = 0;
 
     // Composites a frame for each display. CompositionEngine performs GPU and/or HAL composition
     // via RenderEngine and the Composer HAL, respectively.
-    virtual void composite(TimePoint frameTime, VsyncId) = 0;
+    virtual CompositeResult composite(scheduler::FrameTargeter&) = 0;
 
     // Samples the composited frame via RegionSamplingThread.
     virtual void sample() = 0;
diff --git a/services/surfaceflinger/Scheduler/src/FrameTargeter.cpp b/services/surfaceflinger/Scheduler/src/FrameTargeter.cpp
new file mode 100644
index 0000000..7138afd
--- /dev/null
+++ b/services/surfaceflinger/Scheduler/src/FrameTargeter.cpp
@@ -0,0 +1,152 @@
+/*
+ * Copyright 2023 The Android Open Source Project
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#include <gui/TraceUtils.h>
+
+#include <scheduler/FrameTargeter.h>
+#include <scheduler/IVsyncSource.h>
+
+namespace android::scheduler {
+
+TimePoint FrameTarget::pastVsyncTime(Period vsyncPeriod) const {
+    // TODO(b/267315508): Generalize to N VSYNCs.
+    const int shift = static_cast<int>(targetsVsyncsAhead<2>(vsyncPeriod));
+    return mExpectedPresentTime - Period::fromNs(vsyncPeriod.ns() << shift);
+}
+
+const FenceTimePtr& FrameTarget::presentFenceForPastVsync(Period vsyncPeriod) const {
+    // TODO(b/267315508): Generalize to N VSYNCs.
+    const size_t i = static_cast<size_t>(targetsVsyncsAhead<2>(vsyncPeriod));
+    return mPresentFences[i].fenceTime;
+}
+
+bool FrameTarget::wouldPresentEarly(Period vsyncPeriod) const {
+    // TODO(b/241285475): Since this is called during `composite`, the calls to `targetsVsyncsAhead`
+    // should use `TimePoint::now()` in case of delays since `mFrameBeginTime`.
+
+    // TODO(b/267315508): Generalize to N VSYNCs.
+    if (targetsVsyncsAhead<3>(vsyncPeriod)) {
+        return true;
+    }
+
+    const auto fence = presentFenceForPastVsync(vsyncPeriod);
+    return fence->isValid() && fence->getSignalTime() != Fence::SIGNAL_TIME_PENDING;
+}
+
+void FrameTargeter::beginFrame(const BeginFrameArgs& args, const IVsyncSource& vsyncSource) {
+    return beginFrame(args, vsyncSource, &FrameTargeter::isFencePending);
+}
+
+void FrameTargeter::beginFrame(const BeginFrameArgs& args, const IVsyncSource& vsyncSource,
+                               IsFencePendingFuncPtr isFencePendingFuncPtr) {
+    mVsyncId = args.vsyncId;
+    mFrameBeginTime = args.frameBeginTime;
+
+    // The `expectedVsyncTime`, which was predicted when this frame was scheduled, is normally in
+    // the future relative to `frameBeginTime`, but may not be for delayed frames. Adjust
+    // `mExpectedPresentTime` accordingly, but not `mScheduledPresentTime`.
+    const TimePoint lastScheduledPresentTime = mScheduledPresentTime;
+    mScheduledPresentTime = args.expectedVsyncTime;
+
+    const Period vsyncPeriod = vsyncSource.period();
+
+    // Calculate the expected present time once and use the cached value throughout this frame to
+    // make sure all layers are seeing this same value.
+    if (args.expectedVsyncTime >= args.frameBeginTime) {
+        mExpectedPresentTime = args.expectedVsyncTime;
+    } else {
+        mExpectedPresentTime = vsyncSource.vsyncDeadlineAfter(args.frameBeginTime);
+        if (args.sfWorkDuration > vsyncPeriod) {
+            // Inflate the expected present time if we're targeting the next VSYNC.
+            mExpectedPresentTime += vsyncPeriod;
+        }
+    }
+
+    ATRACE_FORMAT("%s %" PRId64 " vsyncIn %.2fms%s", __func__, ftl::to_underlying(args.vsyncId),
+                  ticks<std::milli, float>(mExpectedPresentTime - TimePoint::now()),
+                  mExpectedPresentTime == args.expectedVsyncTime ? "" : " (adjusted)");
+
+    const FenceTimePtr& pastPresentFence = presentFenceForPastVsync(vsyncPeriod);
+
+    // In cases where the present fence is about to fire, give it a small grace period instead of
+    // giving up on the frame.
+    //
+    // TODO(b/280667110): The grace period should depend on `sfWorkDuration` and `vsyncPeriod` being
+    // approximately equal, not whether backpressure propagation is enabled.
+    const int graceTimeForPresentFenceMs = static_cast<int>(
+            mBackpressureGpuComposition || !mCompositionCoverage.test(CompositionCoverage::Gpu));
+
+    // Pending frames may trigger backpressure propagation.
+    const auto& isFencePending = *isFencePendingFuncPtr;
+    mFramePending = pastPresentFence != FenceTime::NO_FENCE &&
+            isFencePending(pastPresentFence, graceTimeForPresentFenceMs);
+
+    // A frame is missed if the prior frame is still pending. If no longer pending, then we still
+    // count the frame as missed if the predicted present time was further in the past than when the
+    // fence actually fired. Add some slop to correct for drift. This should generally be smaller
+    // than a typical frame duration, but should not be so small that it reports reasonable drift as
+    // a missed frame.
+    mFrameMissed = mFramePending || [&] {
+        const nsecs_t pastPresentTime = pastPresentFence->getSignalTime();
+        if (pastPresentTime < 0) return false;
+        const nsecs_t frameMissedSlop = vsyncPeriod.ns() / 2;
+        return lastScheduledPresentTime.ns() < pastPresentTime - frameMissedSlop;
+    }();
+
+    mHwcFrameMissed = mFrameMissed && mCompositionCoverage.test(CompositionCoverage::Hwc);
+    mGpuFrameMissed = mFrameMissed && mCompositionCoverage.test(CompositionCoverage::Gpu);
+
+    if (mFrameMissed) mFrameMissedCount++;
+    if (mHwcFrameMissed) mHwcFrameMissedCount++;
+    if (mGpuFrameMissed) mGpuFrameMissedCount++;
+}
+
+void FrameTargeter::endFrame(const CompositeResult& result) {
+    mCompositionCoverage = result.compositionCoverage;
+}
+
+FenceTimePtr FrameTargeter::setPresentFence(sp<Fence> presentFence) {
+    auto presentFenceTime = std::make_shared<FenceTime>(presentFence);
+    return setPresentFence(std::move(presentFence), std::move(presentFenceTime));
+}
+
+FenceTimePtr FrameTargeter::setPresentFence(sp<Fence> presentFence, FenceTimePtr presentFenceTime) {
+    mPresentFences[1] = mPresentFences[0];
+    mPresentFences[0] = {std::move(presentFence), presentFenceTime};
+    return presentFenceTime;
+}
+
+void FrameTargeter::dump(utils::Dumper& dumper) const {
+    using namespace std::string_view_literals;
+
+    utils::Dumper::Section section(dumper, "Frame Targeting"sv);
+
+    // There are scripts and tests that expect this (rather than "name=value") format.
+    dumper.dump({}, "Total missed frame count: " + std::to_string(mFrameMissedCount));
+    dumper.dump({}, "HWC missed frame count: " + std::to_string(mHwcFrameMissedCount));
+    dumper.dump({}, "GPU missed frame count: " + std::to_string(mGpuFrameMissedCount));
+}
+
+bool FrameTargeter::isFencePending(const FenceTimePtr& fence, int graceTimeMs) {
+    ATRACE_CALL();
+    const status_t status = fence->wait(graceTimeMs);
+
+    // This is the same as Fence::Status::Unsignaled, but it saves a call to getStatus,
+    // which calls wait(0) again internally.
+    return status == -ETIME;
+}
+
+} // namespace android::scheduler
diff --git a/services/surfaceflinger/Scheduler/tests/FrameTargeterTest.cpp b/services/surfaceflinger/Scheduler/tests/FrameTargeterTest.cpp
new file mode 100644
index 0000000..908f214
--- /dev/null
+++ b/services/surfaceflinger/Scheduler/tests/FrameTargeterTest.cpp
@@ -0,0 +1,301 @@
+/*
+ * Copyright 2023 The Android Open Source Project
+ *
+ * Licensed under the Apache License, Version 2.0 (the "License");
+ * you may not use this file except in compliance with the License.
+ * You may obtain a copy of the License at
+ *
+ *      http://www.apache.org/licenses/LICENSE-2.0
+ *
+ * Unless required by applicable law or agreed to in writing, software
+ * distributed under the License is distributed on an "AS IS" BASIS,
+ * WITHOUT WARRANTIES OR CONDITIONS OF ANY KIND, either express or implied.
+ * See the License for the specific language governing permissions and
+ * limitations under the License.
+ */
+
+#include <ftl/optional.h>
+#include <gtest/gtest.h>
+
+#include <scheduler/Fps.h>
+#include <scheduler/FrameTargeter.h>
+#include <scheduler/IVsyncSource.h>
+
+using namespace std::chrono_literals;
+
+namespace android::scheduler {
+namespace {
+
+struct VsyncSource final : IVsyncSource {
+    VsyncSource(Period period, TimePoint deadline) : vsyncPeriod(period), vsyncDeadline(deadline) {}
+
+    const Period vsyncPeriod;
+    const TimePoint vsyncDeadline;
+
+    Period period() const override { return vsyncPeriod; }
+    TimePoint vsyncDeadlineAfter(TimePoint) const override { return vsyncDeadline; }
+};
+
+} // namespace
+
+class FrameTargeterTest : public testing::Test {
+public:
+    const auto& target() const { return mTargeter.target(); }
+
+    struct Frame {
+        Frame(FrameTargeterTest* testPtr, VsyncId vsyncId, TimePoint& frameBeginTime,
+              Duration frameDuration, Fps refreshRate,
+              FrameTargeter::IsFencePendingFuncPtr isFencePendingFuncPtr = Frame::fenceSignaled,
+              const ftl::Optional<VsyncSource>& vsyncSourceOpt = std::nullopt)
+              : testPtr(testPtr), frameBeginTime(frameBeginTime), period(refreshRate.getPeriod()) {
+            const FrameTargeter::BeginFrameArgs args{.frameBeginTime = frameBeginTime,
+                                                     .vsyncId = vsyncId,
+                                                     .expectedVsyncTime =
+                                                             frameBeginTime + frameDuration,
+                                                     .sfWorkDuration = 10ms};
+
+            testPtr->mTargeter.beginFrame(args,
+                                          vsyncSourceOpt
+                                                  .or_else([&] {
+                                                      return std::make_optional(
+                                                              VsyncSource(period,
+                                                                          args.expectedVsyncTime));
+                                                  })
+                                                  .value(),
+                                          isFencePendingFuncPtr);
+        }
+
+        FenceTimePtr end(CompositionCoverage coverage = CompositionCoverage::Hwc) {
+            if (ended) return nullptr;
+            ended = true;
+
+            auto [fence, fenceTime] = testPtr->mFenceMap.makePendingFenceForTest();
+            testPtr->mTargeter.setPresentFence(std::move(fence), fenceTime);
+
+            testPtr->mTargeter.endFrame({.compositionCoverage = coverage});
+            return fenceTime;
+        }
+
+        ~Frame() {
+            end();
+            frameBeginTime += period;
+        }
+
+        static bool fencePending(const FenceTimePtr&, int) { return true; }
+        static bool fenceSignaled(const FenceTimePtr&, int) { return false; }
+
+        FrameTargeterTest* const testPtr;
+
+        TimePoint& frameBeginTime;
+        const Period period;
+
+        bool ended = false;
+    };
+
+private:
+    FenceToFenceTimeMap mFenceMap;
+
+    static constexpr bool kBackpressureGpuComposition = true;
+    FrameTargeter mTargeter{kBackpressureGpuComposition};
+};
+
+TEST_F(FrameTargeterTest, targetsFrames) {
+    VsyncId vsyncId{42};
+    {
+        TimePoint frameBeginTime(989ms);
+        const Frame frame(this, vsyncId++, frameBeginTime, 10ms, 60_Hz);
+
+        EXPECT_EQ(target().vsyncId(), VsyncId{42});
+        EXPECT_EQ(target().frameBeginTime(), TimePoint(989ms));
+        EXPECT_EQ(target().expectedPresentTime(), TimePoint(999ms));
+        EXPECT_EQ(target().expectedFrameDuration(), 10ms);
+    }
+    {
+        TimePoint frameBeginTime(1100ms);
+        const Frame frame(this, vsyncId++, frameBeginTime, 11ms, 60_Hz);
+
+        EXPECT_EQ(target().vsyncId(), VsyncId{43});
+        EXPECT_EQ(target().frameBeginTime(), TimePoint(1100ms));
+        EXPECT_EQ(target().expectedPresentTime(), TimePoint(1111ms));
+        EXPECT_EQ(target().expectedFrameDuration(), 11ms);
+    }
+}
+
+TEST_F(FrameTargeterTest, inflatesExpectedPresentTime) {
+    // Negative such that `expectedVsyncTime` is in the past.
+    constexpr Duration kFrameDuration = -3ms;
+    TimePoint frameBeginTime(777ms);
+
+    constexpr Fps kRefreshRate = 120_Hz;
+    const VsyncSource vsyncSource(kRefreshRate.getPeriod(), frameBeginTime + 5ms);
+    const Frame frame(this, VsyncId{123}, frameBeginTime, kFrameDuration, kRefreshRate,
+                      Frame::fenceSignaled, vsyncSource);
+
+    EXPECT_EQ(target().expectedPresentTime(), vsyncSource.vsyncDeadline + vsyncSource.vsyncPeriod);
+}
+
+TEST_F(FrameTargeterTest, recallsPastVsync) {
+    VsyncId vsyncId{111};
+    TimePoint frameBeginTime(1000ms);
+    constexpr Fps kRefreshRate = 60_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+    constexpr Duration kFrameDuration = 13ms;
+
+    for (int n = 5; n-- > 0;) {
+        Frame frame(this, vsyncId++, frameBeginTime, kFrameDuration, kRefreshRate);
+        const auto fence = frame.end();
+
+        EXPECT_EQ(target().pastVsyncTime(kPeriod), frameBeginTime + kFrameDuration - kPeriod);
+        EXPECT_EQ(target().presentFenceForPastVsync(kPeriod), fence);
+    }
+}
+
+TEST_F(FrameTargeterTest, recallsPastVsyncTwoVsyncsAhead) {
+    VsyncId vsyncId{222};
+    TimePoint frameBeginTime(2000ms);
+    constexpr Fps kRefreshRate = 120_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+    constexpr Duration kFrameDuration = 10ms;
+
+    FenceTimePtr previousFence = FenceTime::NO_FENCE;
+
+    for (int n = 5; n-- > 0;) {
+        Frame frame(this, vsyncId++, frameBeginTime, kFrameDuration, kRefreshRate);
+        const auto fence = frame.end();
+
+        EXPECT_EQ(target().pastVsyncTime(kPeriod), frameBeginTime + kFrameDuration - 2 * kPeriod);
+        EXPECT_EQ(target().presentFenceForPastVsync(kPeriod), previousFence);
+
+        previousFence = fence;
+    }
+}
+
+TEST_F(FrameTargeterTest, doesNotDetectEarlyPresentIfNoFence) {
+    constexpr Period kPeriod = (60_Hz).getPeriod();
+    EXPECT_EQ(target().presentFenceForPastVsync(kPeriod), FenceTime::NO_FENCE);
+    EXPECT_FALSE(target().wouldPresentEarly(kPeriod));
+}
+
+TEST_F(FrameTargeterTest, detectsEarlyPresent) {
+    VsyncId vsyncId{333};
+    TimePoint frameBeginTime(3000ms);
+    constexpr Fps kRefreshRate = 60_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+
+    // The target is not early while past present fences are pending.
+    for (int n = 3; n-- > 0;) {
+        const Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().wouldPresentEarly(kPeriod));
+    }
+
+    // The target is early if the past present fence was signaled.
+    Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+    const auto fence = frame.end();
+    fence->signalForTest(frameBeginTime.ns());
+
+    EXPECT_TRUE(target().wouldPresentEarly(kPeriod));
+}
+
+TEST_F(FrameTargeterTest, detectsEarlyPresentTwoVsyncsAhead) {
+    VsyncId vsyncId{444};
+    TimePoint frameBeginTime(4000ms);
+    constexpr Fps kRefreshRate = 120_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+
+    // The target is not early while past present fences are pending.
+    for (int n = 3; n-- > 0;) {
+        const Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().wouldPresentEarly(kPeriod));
+    }
+
+    Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+    const auto fence = frame.end();
+    fence->signalForTest(frameBeginTime.ns());
+
+    // The target is two VSYNCs ahead, so the past present fence is still pending.
+    EXPECT_FALSE(target().wouldPresentEarly(kPeriod));
+
+    { const Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate); }
+
+    // The target is early if the past present fence was signaled.
+    EXPECT_TRUE(target().wouldPresentEarly(kPeriod));
+}
+
+TEST_F(FrameTargeterTest, detectsEarlyPresentThreeVsyncsAhead) {
+    TimePoint frameBeginTime(5000ms);
+    constexpr Fps kRefreshRate = 144_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+
+    const Frame frame(this, VsyncId{555}, frameBeginTime, 16ms, kRefreshRate);
+
+    // The target is more than two VSYNCs ahead, but present fences are not tracked that far back.
+    EXPECT_TRUE(target().wouldPresentEarly(kPeriod));
+}
+
+TEST_F(FrameTargeterTest, detectsMissedFrames) {
+    VsyncId vsyncId{555};
+    TimePoint frameBeginTime(5000ms);
+    constexpr Fps kRefreshRate = 60_Hz;
+    constexpr Period kPeriod = kRefreshRate.getPeriod();
+
+    EXPECT_FALSE(target().isFramePending());
+    EXPECT_FALSE(target().didMissFrame());
+    EXPECT_FALSE(target().didMissHwcFrame());
+
+    {
+        const Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().isFramePending());
+
+        // The frame did not miss if the past present fence is invalid.
+        EXPECT_FALSE(target().didMissFrame());
+        EXPECT_FALSE(target().didMissHwcFrame());
+    }
+    {
+        Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate, Frame::fencePending);
+        EXPECT_TRUE(target().isFramePending());
+
+        // The frame missed if the past present fence is pending.
+        EXPECT_TRUE(target().didMissFrame());
+        EXPECT_TRUE(target().didMissHwcFrame());
+
+        frame.end(CompositionCoverage::Gpu);
+    }
+    {
+        const Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate, Frame::fencePending);
+        EXPECT_TRUE(target().isFramePending());
+
+        // The GPU frame missed if the past present fence is pending.
+        EXPECT_TRUE(target().didMissFrame());
+        EXPECT_FALSE(target().didMissHwcFrame());
+    }
+    {
+        Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().isFramePending());
+
+        const auto fence = frame.end();
+        const auto expectedPresentTime = target().expectedPresentTime();
+        fence->signalForTest(expectedPresentTime.ns() + kPeriod.ns() / 2 + 1);
+    }
+    {
+        Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().isFramePending());
+
+        const auto fence = frame.end();
+        const auto expectedPresentTime = target().expectedPresentTime();
+        fence->signalForTest(expectedPresentTime.ns() + kPeriod.ns() / 2);
+
+        // The frame missed if the past present fence was signaled but not within slop.
+        EXPECT_TRUE(target().didMissFrame());
+        EXPECT_TRUE(target().didMissHwcFrame());
+    }
+    {
+        Frame frame(this, vsyncId++, frameBeginTime, 10ms, kRefreshRate);
+        EXPECT_FALSE(target().isFramePending());
+
+        // The frame did not miss if the past present fence was signaled within slop.
+        EXPECT_FALSE(target().didMissFrame());
+        EXPECT_FALSE(target().didMissHwcFrame());
+    }
+}
+
+} // namespace android::scheduler
diff --git a/services/surfaceflinger/Scheduler/tests/PresentLatencyTrackerTest.cpp b/services/surfaceflinger/Scheduler/tests/PresentLatencyTrackerTest.cpp
index 8952ca9..df2ea83 100644
--- a/services/surfaceflinger/Scheduler/tests/PresentLatencyTrackerTest.cpp
+++ b/services/surfaceflinger/Scheduler/tests/PresentLatencyTrackerTest.cpp
@@ -23,16 +23,6 @@
 #include <ui/FenceTime.h>
 
 namespace android::scheduler {
-namespace {
-
-using FencePair = std::pair<sp<Fence>, std::shared_ptr<FenceTime>>;
-
-FencePair makePendingFence(FenceToFenceTimeMap& fenceMap) {
-    const auto fence = sp<Fence>::make();
-    return {fence, fenceMap.createFenceTimeForTest(fence)};
-}
-
-} // namespace
 
 TEST(PresentLatencyTrackerTest, skipsInvalidFences) {
     PresentLatencyTracker tracker;
@@ -43,7 +33,7 @@
     EXPECT_EQ(tracker.trackPendingFrame(kCompositeTime, FenceTime::NO_FENCE), Duration::zero());
 
     FenceToFenceTimeMap fenceMap;
-    const auto [fence, fenceTime] = makePendingFence(fenceMap);
+    const auto [fence, fenceTime] = fenceMap.makePendingFenceForTest();
     EXPECT_EQ(tracker.trackPendingFrame(kCompositeTime, fenceTime), Duration::zero());
 
     fenceTime->signalForTest(9999);
@@ -56,8 +46,9 @@
     PresentLatencyTracker tracker;
 
     FenceToFenceTimeMap fenceMap;
-    std::array<FencePair, PresentLatencyTracker::kMaxPendingFrames> fences;
-    std::generate(fences.begin(), fences.end(), [&fenceMap] { return makePendingFence(fenceMap); });
+    std::array<FenceToFenceTimeMap::FencePair, PresentLatencyTracker::kMaxPendingFrames> fences;
+    std::generate(fences.begin(), fences.end(),
+                  [&fenceMap] { return fenceMap.makePendingFenceForTest(); });
 
     // The present latency is 0 if all fences are pending.
     const TimePoint kCompositeTime = TimePoint::fromNs(1234);
@@ -71,7 +62,7 @@
         fences[i].second->signalForTest(kCompositeTime.ns() + static_cast<nsecs_t>(i));
     }
 
-    const auto fence = makePendingFence(fenceMap);
+    const auto fence = fenceMap.makePendingFenceForTest();
 
     // ...then the present latency is measured using the latest frame.
     constexpr Duration kPresentLatency = Duration::fromNs(static_cast<nsecs_t>(kPresentCount) - 1);