diff --git a/Gems/Multiplayer/Code/Source/MultiplayerSystemComponent.cpp b/Gems/Multiplayer/Code/Source/MultiplayerSystemComponent.cpp
index dad584d3e8..ad0be24661 100644
--- a/Gems/Multiplayer/Code/Source/MultiplayerSystemComponent.cpp
+++ b/Gems/Multiplayer/Code/Source/MultiplayerSystemComponent.cpp
@@ -39,6 +39,9 @@
 #include <AzNetworking/Framework/INetworking.h>
 
 #include <cmath>
+#include <AzCore/Debug/Profiler.h>
+
+AZ_DEFINE_BUDGET(MULTIPLAYER);
 
 namespace AZ::ConsoleTypeHelpers
 {
@@ -347,6 +350,8 @@ namespace Multiplayer
 
     void MultiplayerSystemComponent::OnTick(float deltaTime, [[maybe_unused]] AZ::ScriptTimePoint time)
     {
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "MultiplayerTick");
+
         if (bg_multiplayerDebugDraw)
         {
             m_networkEntityManager.DebugDraw();
@@ -388,7 +393,9 @@ namespace Multiplayer
         stats.m_clientConnectionCount = 0;
 
         // Send out the game state update to all connections
-        {
+        {            
+            AZ_PROFILE_SCOPE(MULTIPLAYER, "SendOutGameStateUpdateToAllConnections");
+
             auto sendNetworkUpdates = [&stats](IConnection& connection)
             {
                 if (connection.GetUserData() != nullptr)
@@ -434,6 +441,7 @@ namespace Multiplayer
 
         if (!packet.GetCommandSet().empty())
         {
+            AZ_PROFILE_SCOPE(MULTIPLAYER, "SendReliablePackets");
             m_networkInterface->GetConnectionSet().VisitConnections(visitor);
         }
     }
@@ -1012,6 +1020,8 @@ namespace Multiplayer
 
     void MultiplayerSystemComponent::TickVisibleNetworkEntities(float deltaTime, float serverRateSeconds)
     {
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "TickVisibleNetworkEntities");
+
         m_tickFactor += deltaTime / serverRateSeconds;
         // Linear close to the origin, but asymptote at y = 1
         m_renderBlendFactor = AZStd::clamp(1.0f - (std::pow(cl_renderTickBlendBase, m_tickFactor)), 0.0f, m_tickFactor);
diff --git a/Gems/Multiplayer/Code/Source/NetworkEntity/EntityReplication/EntityReplicationManager.cpp b/Gems/Multiplayer/Code/Source/NetworkEntity/EntityReplication/EntityReplicationManager.cpp
index 893799a296..a9f1a33e31 100644
--- a/Gems/Multiplayer/Code/Source/NetworkEntity/EntityReplication/EntityReplicationManager.cpp
+++ b/Gems/Multiplayer/Code/Source/NetworkEntity/EntityReplication/EntityReplicationManager.cpp
@@ -26,8 +26,11 @@
 #include <AzCore/Component/ComponentApplicationBus.h>
 #include <AzCore/Console/IConsole.h>
 #include <AzCore/Console/ILogger.h>
+#include <AzCore/Debug/Profiler.h>
 #include <AzCore/Math/Transform.h>
 
+AZ_DECLARE_BUDGET(MULTIPLAYER);
+
 namespace Multiplayer
 {
     // Current max size for a UdpPacketHeader is 11 bytes
@@ -78,6 +81,8 @@ namespace Multiplayer
 
     void EntityReplicationManager::ActivatePendingEntities()
     {
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "ActivatePendingEntities");
+
         AZStd::vector<NetEntityId> notReadyEntities;
 
         const AZ::TimeMs endTimeMs = AZ::GetElapsedTimeMs() + m_entityActivationTimeSliceMs;
@@ -126,17 +131,23 @@ namespace Multiplayer
                 GetRemoteHostId().GetString().c_str()
             );
 
-            // Prep a replication record for send, at this point, everything needs to be sent
-            for (EntityReplicator* replicator : toSendList)
             {
-                replicator->GetPropertyPublisher()->PrepareSerialization();
+                AZ_PROFILE_SCOPE(MULTIPLAYER, "PrepareSerialization");
+                // Prep a replication record for send, at this point, everything needs to be sent
+                for (EntityReplicator* replicator : toSendList)
+                {
+                    replicator->GetPropertyPublisher()->PrepareSerialization();
+                }
             }
 
-            // While our to send list is not empty, build up another packet to send
-            do
             {
-                SendEntityUpdateMessages(toSendList);
-            } while (!toSendList.empty());
+                AZ_PROFILE_SCOPE(MULTIPLAYER, "SendEntityUpdateMessages");
+                // While our to send list is not empty, build up another packet to send
+                do
+                {
+                    SendEntityUpdateMessages(toSendList);
+                } while (!toSendList.empty());
+            }
         }
 
         SendEntityRpcs(m_deferredRpcMessagesReliable, true);
@@ -163,6 +174,8 @@ namespace Multiplayer
         {
             return EntityReplicatorList();
         }
+                
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "GenerateEntityUpdateList");
 
         // Generate a list of all our entities that need updates
         EntityReplicatorList toSendList;
diff --git a/Gems/Multiplayer/Code/Source/NetworkEntity/NetworkEntityManager.cpp b/Gems/Multiplayer/Code/Source/NetworkEntity/NetworkEntityManager.cpp
index 0a6aeea8a8..a3d1988e66 100644
--- a/Gems/Multiplayer/Code/Source/NetworkEntity/NetworkEntityManager.cpp
+++ b/Gems/Multiplayer/Code/Source/NetworkEntity/NetworkEntityManager.cpp
@@ -25,6 +25,8 @@
 #include <Multiplayer/Components/NetworkHierarchyRootComponent.h>
 #include <Pipeline/NetworkSpawnableHolderComponent.h>
 
+AZ_DECLARE_BUDGET(MULTIPLAYER);
+
 namespace Multiplayer
 {
     AZ_CVAR(bool, net_DebugCheckNetworkEntityManager, false, nullptr, AZ::ConsoleFunctorFlags::Null, "Enables extra debug checks inside the NetworkEntityManager");
@@ -203,11 +205,13 @@ namespace Multiplayer
 
     void NetworkEntityManager::NotifyEntitiesDirtied()
     {
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "NotifyEntitiesDirtied");
         m_onEntityMarkedDirty.Signal();
     }
 
     void NetworkEntityManager::NotifyEntitiesChanged()
     {
+        AZ_PROFILE_SCOPE(MULTIPLAYER, "NotifyEntitiesChanged");
         m_onEntityNotifyChanges.Signal();
     }