diff --git a/erpnext/stock/report/incorrect_serial_no_valuation/incorrect_serial_no_valuation.py b/erpnext/stock/report/incorrect_serial_no_valuation/incorrect_serial_no_valuation.py
index 101b6a21461..c7a256c7c57 100644
--- a/erpnext/stock/report/incorrect_serial_no_valuation/incorrect_serial_no_valuation.py
+++ b/erpnext/stock/report/incorrect_serial_no_valuation/incorrect_serial_no_valuation.py
@@ -115,7 +115,7 @@ def get_stock_ledger_entries(report_filters):
 		"posting_time",
 		"company",
 		"warehouse",
-		{"DIV": ["stock_value_difference", "actual_qty"], "as": "valuation_rate"},
+		{"DIV": ["stock_value_difference", {"NULLIF": ["actual_qty", 0]}], "as": "valuation_rate"},
 	]
 
 	filters = {"is_cancelled": 0}