diff --git a/src/libsysprof-ui/sysprof-callgraph-view.c b/src/libsysprof-ui/sysprof-callgraph-view.c
index 87876b5c..07ea0d09 100644
--- a/src/libsysprof-ui/sysprof-callgraph-view.c
+++ b/src/libsysprof-ui/sysprof-callgraph-view.c
@@ -60,6 +60,7 @@ typedef struct
   GQueue                   *history;
 
   guint                     profile_size;
+  guint                     loading;
 } SysprofCallgraphViewPrivate;
 
 G_DEFINE_TYPE_WITH_PRIVATE (SysprofCallgraphView, sysprof_callgraph_view, GTK_TYPE_BIN)
@@ -1203,3 +1204,22 @@ sysprof_callgraph_view_get_n_functions (SysprofCallgraphView *self)
 
   return ret;
 }
+
+void
+_sysprof_callgraph_view_set_loading (SysprofCallgraphView *self,
+                                     gboolean              loading)
+{
+  SysprofCallgraphViewPrivate *priv = sysprof_callgraph_view_get_instance_private (self);
+
+  g_return_if_fail (SYSPROF_IS_CALLGRAPH_VIEW (self));
+
+  if (loading)
+    priv->loading++;
+  else
+    priv->loading--;
+
+  if (priv->loading)
+    gtk_stack_set_visible_child_name (priv->stack, "loading");
+  else
+    gtk_stack_set_visible_child_name (priv->stack, "callgraph");
+}
diff --git a/src/libsysprof-ui/sysprof-capture-view.c b/src/libsysprof-ui/sysprof-capture-view.c
index a7462a35..70332ffd 100644
--- a/src/libsysprof-ui/sysprof-capture-view.c
+++ b/src/libsysprof-ui/sysprof-capture-view.c
@@ -254,6 +254,7 @@ sysprof_capture_view_generate_callgraph_async (SysprofCaptureView   *self,
                                                GAsyncReadyCallback   callback,
                                                gpointer              user_data)
 {
+  SysprofCaptureViewPrivate *priv = sysprof_capture_view_get_instance_private (self);
   g_autoptr(SysprofCaptureReader) copy = NULL;
   g_autoptr(SysprofProfile) callgraph = NULL;
   g_autoptr(GTask) task = NULL;
@@ -267,6 +268,8 @@ sysprof_capture_view_generate_callgraph_async (SysprofCaptureView   *self,
   g_task_set_source_tag (task, sysprof_capture_view_generate_callgraph_async);
   sysprof_capture_view_monitor_task (self, task);
 
+  _sysprof_callgraph_view_set_loading (priv->callgraph_view, TRUE);
+
   copy = sysprof_capture_reader_copy (reader);
   callgraph = sysprof_callgraph_profile_new_with_selection (selection);
   sysprof_profile_set_reader (callgraph, copy);
@@ -281,9 +284,13 @@ sysprof_capture_view_generate_callgraph_finish (SysprofCaptureView  *self,
                                                 GAsyncResult        *result,
                                                 GError             **error)
 {
+  SysprofCaptureViewPrivate *priv = sysprof_capture_view_get_instance_private (self);
+
   g_assert (SYSPROF_IS_CAPTURE_VIEW (self));
   g_assert (G_IS_TASK (result));
 
+  _sysprof_callgraph_view_set_loading (priv->callgraph_view, FALSE);
+
   return g_task_propagate_boolean (G_TASK (result), error);
 }
 
diff --git a/src/libsysprof-ui/sysprof-ui-private.h b/src/libsysprof-ui/sysprof-ui-private.h
index f4eed566..38956839 100644
--- a/src/libsysprof-ui/sysprof-ui-private.h
+++ b/src/libsysprof-ui/sysprof-ui-private.h
@@ -50,6 +50,8 @@ void             _sysprof_rounded_rectangle               (cairo_t
                                                            gint                      y_radius);
 gchar           *_sysprof_format_duration                 (gint64                    duration);
 void             _sysprof_callgraph_view_set_failed       (SysprofCallgraphView     *self);
+void             _sysprof_callgraph_view_set_loading      (SysprofCallgraphView     *self,
+                                                           gboolean                  loading);
 void             _sysprof_display_focus_record            (SysprofDisplay           *self);
 void             _sysprof_profiler_assistant_focus_record (SysprofProfilerAssistant *self);
 
diff --git a/src/libsysprof-ui/ui/sysprof-callgraph-view.ui b/src/libsysprof-ui/ui/sysprof-callgraph-view.ui
index 848c2a0e..e1939e07 100644
--- a/src/libsysprof-ui/ui/sysprof-callgraph-view.ui
+++ b/src/libsysprof-ui/ui/sysprof-callgraph-view.ui
@@ -207,6 +207,17 @@
             <property name="name">callgraph</property>
           </packing>
         </child>
+        <child>
+          <object class="SysprofEmptyStateView">
+            <property name="icon-name">content-loading-symbolic</property>
+            <property name="title" translatable="yes">Generating Callgraph</property>
+            <property name="subtitle" translatable="yes">Sysprof is busy creating the selected callgraph.</property>
+            <property name="visible">true</property>
+          </object>
+          <packing>
+            <property name="name">loading</property>
+          </packing>
+        </child>
         <child>
           <object class="SysprofEmptyStateView">
             <property name="icon-name">computer-fail-symbolic</property>