diff --git a/tests/pytorch/debug/test_api_features.py b/tests/pytorch/debug/test_api_features.py
index 974772599a..d28db16477 100644
--- a/tests/pytorch/debug/test_api_features.py
+++ b/tests/pytorch/debug/test_api_features.py
@@ -268,7 +268,7 @@ def assert_empty():
         )[0]
 
         expected_underflows = (
-            ((tensor_fp8._data == 0).sum() - (tensor == 0).sum()) * 100 / (100 * 100 * 5)
+            ((tensor_fp8.dequantize() == 0).sum() - (tensor == 0).sum()) * 100 / (100 * 100 * 5)
         )
 
         assert debug_api.transformer_engine.inspect_tensor_enabled(
@@ -302,7 +302,7 @@ def assert_empty():
         )[0]
 
         # Second config in same yaml
-        tensor = torch.rand((100, 100, 5))
+        tensor = torch.rand((100, 100, 5)).cuda()
         debug_api.transformer_engine.inspect_tensor(
             "decoder.6.mlp.fc1",
             tensor_name="activation",
@@ -316,7 +316,9 @@ def assert_empty():
         stats = log()
         stats_names = [x[3] for x in stats.keys()]
         all(s in stats_names for s in ["cur_amax", "dynamic_range", "mean", "std", "l1_norm"])
-        assert stats[("decoder.6.mlp.fc1", "activation", "mean", 200)] == tensor.mean()
+        torch.testing.assert_close(
+            stats[("decoder.6.mlp.fc1", "activation", "mean", 200)], tensor.mean()
+        )
 
         debug_api.transformer_engine.inspect_tensor(
             "decoder.7.mlp.fc1",
@@ -331,7 +333,7 @@ def assert_empty():
         stats = log()
         stats_names = [x[3] for x in stats.keys()]
         all(s in stats_names for s in ["mean", "std", "l1_norm", "min", "max"])
-        assert stats[("decoder.7.mlp.fc1", "weight", "max", 200)] == tensor.max()
+        torch.testing.assert_close(stats[("decoder.7.mlp.fc1", "weight", "max", 200)], tensor.max())
 
         assert not debug_api.transformer_engine.inspect_tensor_enabled(
             "decoder.7.mlp.fc1", tensor_name="weight", iteration=201
@@ -377,7 +379,7 @@ def fp8_tensor(t):
             return quantizer(t.cuda())
 
         shape = [1024, 1024]
-        tensors = [torch.randn(shape) for _ in range(2)]
+        tensors = [torch.randn(shape).cuda() for _ in range(2)]
         tensors_fp8 = [fp8_tensor(tensors[i]) for i in range(2)]
 
         feed(tensors[0], tensors_fp8[0], quantizer)
diff --git a/tests/pytorch/debug/test_log.py b/tests/pytorch/debug/test_log.py
index ca8e10ad69..dcc9861c84 100644
--- a/tests/pytorch/debug/test_log.py
+++ b/tests/pytorch/debug/test_log.py
@@ -167,8 +167,8 @@ def test_numerics(fp8_recipe, feature_dirs):
             num_quantizers=3,
         )
 
-        tensor = torch.zeros(1024, 1024).cuda()
-        tensor[0, :] = 1000
+        tensor = torch.randn(1024, 1024).cuda()
+        tensor[0, 100:200] = -0.0
         quantizer = recipe_state.make_quantizers()[0]
         quantized_tensor = quantizer(tensor)
 
@@ -191,15 +191,13 @@ def test_numerics(fp8_recipe, feature_dirs):
         if "underflows%" in line:
             underflows = float(line.split("value=")[1])
             expected = (
-                ((dequantized_tensor == 0).sum() - (tensor == 0).sum())
-                / dequantized_tensor.numel()
-                * 100
+                ((dequantized_tensor == 0).sum() - (tensor == 0).sum()) / tensor.numel() * 100
             )
             assert underflows == pytest.approx(expected.cpu(), abs=1e-4)
         if "mse" in line:
             mse = float(line.split("value=")[1])
             expected = torch.nn.functional.mse_loss(dequantized_tensor, tensor, reduction="mean")
-            assert mse == pytest.approx(expected.cpu(), abs=1e-6)
+            assert mse == pytest.approx(expected.cpu(), abs=1e-4)
         if "overflows%" in line:
             overflows = float(line.split("value=")[1])
             expected = (
diff --git a/transformer_engine/debug/features/utils/stats_computation.py b/transformer_engine/debug/features/utils/stats_computation.py
index 3842ab1c56..2fa6985acf 100644
--- a/transformer_engine/debug/features/utils/stats_computation.py
+++ b/transformer_engine/debug/features/utils/stats_computation.py
@@ -199,6 +199,15 @@ def _get(buffers, stat_name):
     ),
 }
 
+FP8_NEGATIVE_ZERO = 128  # represnts -0.0 in fp8
+
+
+def count_nonzero_fp8(fp8_data: torch.Tensor) -> torch.Tensor:
+    """Count the number of non-zero elements in the fp8 data."""
+    fp8_data = fp8_data.view(dtype=torch.uint8)
+    zero_vals = torch.tensor([0, FP8_NEGATIVE_ZERO], device=fp8_data.device, dtype=torch.uint8)
+    return fp8_data.numel() - torch.isin(fp8_data, zero_vals).sum()
+
 
 def add_underflows_stats(recipe_name: str, columnwise: bool = False):
     """Register *both* underflow stats (num and %) for the given recipe."""
@@ -212,22 +221,23 @@ def add_underflows_stats(recipe_name: str, columnwise: bool = False):
     stats_to_num[stat_pct] = len(stats_to_num)
 
     STATS[stat_num] = (
-        lambda x, aux_dict: (
+        lambda x, aux_dict: x.count_nonzero()
+        - count_nonzero_fp8(
             aux_dict[recipe_name].get_data_tensors(
                 rowwise_data=not columnwise, columnwise_data=columnwise
             )
-            == 0
-        ).sum()
-        - (x == 0).sum(),
+        ),
         lambda buffers, _sn=stat_num: sum(_get(buffers, _sn)),
     )
     STATS[stat_pct] = (
         lambda x, aux_dict: (
-            aux_dict[recipe_name].get_data_tensors(
-                rowwise_data=not columnwise, columnwise_data=columnwise
+            x.count_nonzero()
+            - count_nonzero_fp8(
+                aux_dict[recipe_name].get_data_tensors(
+                    rowwise_data=not columnwise, columnwise_data=columnwise
+                )
             )
-            == 0
-        ).sum()
+        )
         / aux_dict[recipe_name].numel()
         * 100,
         lambda buffers, _sn_num=stat_num: 100