diff --git a/tools/perf/util/PERF-VERSION-GEN b/tools/perf/util/PERF-VERSION-GEN
index 1b32e8c0253..97d76562a1a 100755
--- a/tools/perf/util/PERF-VERSION-GEN
+++ b/tools/perf/util/PERF-VERSION-GEN
@@ -5,17 +5,13 @@ if [ $# -eq 1 ]  ; then
 fi
 
 GVF=${OUTPUT}PERF-VERSION-FILE
-DEF_VER=v0.0.2.PERF
 
 LF='
 '
 
-# First see if there is a version file (included in release tarballs),
-# then try git-describe, then default.
-if test -f version
-then
-	VN=$(cat version) || VN="$DEF_VER"
-elif test -d ../../.git -o -f ../../.git &&
+# First check if there is a .git to get the version from git describe
+# otherwise try to get the version from the kernel makefile
+if test -d ../../.git -o -f ../../.git &&
 	VN=$(git describe --abbrev=4 HEAD 2>/dev/null) &&
 	case "$VN" in
 	*$LF*) (exit 1) ;;
@@ -27,7 +23,12 @@ elif test -d ../../.git -o -f ../../.git &&
 then
 	VN=$(echo "$VN" | sed -e 's/-/./g');
 else
-	VN="$DEF_VER"
+	eval `grep '^VERSION\s*=' ../../Makefile|tr -d ' '`
+	eval `grep '^PATCHLEVEL\s*=' ../../Makefile|tr -d ' '`
+	eval `grep '^SUBLEVEL\s*=' ../../Makefile|tr -d ' '`
+	eval `grep '^EXTRAVERSION\s*=' ../../Makefile|tr -d ' '`
+
+	VN="${VERSION}.${PATCHLEVEL}.${SUBLEVEL}${EXTRAVERSION}"
 fi
 
 VN=$(expr "$VN" : v*'\(.*\)')