diff --git a/docs/release-notes/version-2.11.md b/docs/release-notes/version-2.11.md
index 1b116366c..cd92c755f 100644
--- a/docs/release-notes/version-2.11.md
+++ b/docs/release-notes/version-2.11.md
@@ -17,6 +17,7 @@
 * [#6778](https://github.com/netbox-community/netbox/issues/6778) - Rack reservation should display rack's location
 * [#6780](https://github.com/netbox-community/netbox/issues/6780) - Include rack location in navigation breadcrumbs
 * [#6794](https://github.com/netbox-community/netbox/issues/6794) - Fix device name display on device status view
+* [#6812](https://github.com/netbox-community/netbox/issues/6812) - Limit reported prefix utilization to 100%
 * [#6822](https://github.com/netbox-community/netbox/issues/6822) - Use consistent maximum value for interface MTU
 
 ### Other Changes
diff --git a/netbox/ipam/models/ip.py b/netbox/ipam/models/ip.py
index 1f3766e3a..cd5b89cfe 100644
--- a/netbox/ipam/models/ip.py
+++ b/netbox/ipam/models/ip.py
@@ -181,7 +181,9 @@ class Aggregate(PrimaryModel):
         """
         queryset = Prefix.objects.filter(prefix__net_contained_or_equal=str(self.prefix))
         child_prefixes = netaddr.IPSet([p.prefix for p in queryset])
-        return int(float(child_prefixes.size) / self.prefix.size * 100)
+        utilization = int(float(child_prefixes.size) / self.prefix.size * 100)
+
+        return min(utilization, 100)
 
 
 @extras_features('custom_fields', 'custom_links', 'export_templates', 'webhooks')
@@ -502,14 +504,16 @@ class Prefix(PrimaryModel):
                 vrf=self.vrf
             )
             child_prefixes = netaddr.IPSet([p.prefix for p in queryset])
-            return int(float(child_prefixes.size) / self.prefix.size * 100)
+            utilization = int(float(child_prefixes.size) / self.prefix.size * 100)
         else:
             # Compile an IPSet to avoid counting duplicate IPs
             child_count = netaddr.IPSet([ip.address.ip for ip in self.get_child_ips()]).size
             prefix_size = self.prefix.size
             if self.prefix.version == 4 and self.prefix.prefixlen < 31 and not self.is_pool:
                 prefix_size -= 2
-            return int(float(child_count) / prefix_size * 100)
+            utilization = int(float(child_count) / prefix_size * 100)
+
+        return min(utilization, 100)
 
 
 @extras_features('custom_fields', 'custom_links', 'export_templates', 'tags', 'webhooks')