diff --git a/sentry-ruby/lib/sentry/interfaces/stacktrace.rb b/sentry-ruby/lib/sentry/interfaces/stacktrace.rb
index 104b7a0fb..5d007b327 100644
--- a/sentry-ruby/lib/sentry/interfaces/stacktrace.rb
+++ b/sentry-ruby/lib/sentry/interfaces/stacktrace.rb
@@ -23,6 +23,77 @@ def inspect
     private
 
     # Not actually an interface, but I want to use the same style
+    # Cache for longest_load_path lookups — shared across all frames
+    @load_path_cache = {}
+    @load_path_size = nil
+    # Cache for compute_filename results — many frames share identical abs_paths
+    # Separate caches for in_app=true and in_app=false to avoid composite keys
+    @filename_cache_in_app = {}
+    @filename_cache_not_in_app = {}
+    @filename_project_root = nil
+
+    class << self
+      def check_load_path_freshness
+        current_size = $LOAD_PATH.size
+        if @load_path_size != current_size
+          @load_path_cache = {}
+          @filename_cache_in_app = {}
+          @filename_cache_not_in_app = {}
+          @load_path_size = current_size
+        end
+      end
+
+      def longest_load_path_for(abs_path)
+        check_load_path_freshness
+
+        @load_path_cache.fetch(abs_path) do
+          result = $LOAD_PATH.select { |path| abs_path.start_with?(path.to_s) }.max_by(&:size)
+          @load_path_cache[abs_path] = result
+        end
+      end
+
+      def cached_filename(abs_path, project_root, in_app, strip_backtrace_load_path)
+        return abs_path unless abs_path
+        return abs_path unless strip_backtrace_load_path
+
+        check_load_path_freshness
+
+        # Invalidate filename cache when project_root changes
+        if @filename_project_root != project_root
+          @filename_cache_in_app = {}
+          @filename_cache_not_in_app = {}
+          @filename_project_root = project_root
+        end
+
+        cache = in_app ? @filename_cache_in_app : @filename_cache_not_in_app
+        cache.fetch(abs_path) do
+          under_root = project_root && abs_path.start_with?(project_root)
+          prefix =
+            if under_root && in_app
+              project_root
+            elsif under_root
+              longest_load_path_for(abs_path) || project_root
+            else
+              longest_load_path_for(abs_path)
+            end
+
+          result = if prefix
+            prefix_str = prefix.to_s
+            offset = if prefix_str.end_with?(File::SEPARATOR)
+              prefix_str.length
+            else
+              prefix_str.length + 1
+            end
+            abs_path.byteslice(offset, abs_path.bytesize - offset)
+          else
+            abs_path
+          end
+
+          cache[abs_path] = result
+        end
+      end
+    end
+
     class Frame < Interface
       attr_accessor :abs_path, :context_line, :function, :in_app, :filename,
                   :lineno, :module, :pre_context, :post_context, :vars
@@ -36,7 +107,9 @@ def initialize(project_root, line, strip_backtrace_load_path = true)
         @lineno = line.number
         @in_app = line.in_app
         @module = line.module_name if line.module_name
-        @filename = compute_filename
+        @filename = StacktraceInterface.cached_filename(
+          @abs_path, project_root, @in_app, strip_backtrace_load_path
+        )
       end
 
       def to_s
@@ -82,7 +155,7 @@ def under_project_root?
       end
 
       def longest_load_path
-        $LOAD_PATH.select { |path| abs_path.start_with?(path.to_s) }.max_by(&:size)
+        StacktraceInterface.longest_load_path_for(abs_path)
       end
     end
   end