diff --git a/drivers/sensor/icm42688/icm42688.c b/drivers/sensor/icm42688/icm42688.c
index ee92c30987ecfce..a6b4cd06c521978 100644
--- a/drivers/sensor/icm42688/icm42688.c
+++ b/drivers/sensor/icm42688/icm42688.c
@@ -157,13 +157,11 @@ static int icm42688_attr_set(const struct device *dev, enum sensor_channel chan,
 		}
 		break;
 	case SENSOR_CHAN_ALL:
-		if (attr == SENSOR_ATTR_FIFO_WATERMARK) {
-			int64_t mval = sensor_value_to_micro(val);
-
-			if (mval < 0 || mval > 1000000) {
+		if (attr == SENSOR_ATTR_BATCH_DURATION) {
+			if (val->val1 < 0) {
 				return -EINVAL;
 			}
-			new_config.fifo_wm = CLAMP(mval * 2048 / 1000000, 0, 2048);
+			new_config.batch_ticks = val->val1;
 		} else {
 			LOG_ERR("Unsupported attribute");
 			res = -EINVAL;
@@ -217,6 +215,15 @@ static int icm42688_attr_get(const struct device *dev, enum sensor_channel chan,
 			res = -EINVAL;
 		}
 		break;
+	case SENSOR_CHAN_ALL:
+		if (attr == SENSOR_ATTR_BATCH_DURATION) {
+			val->val1 = cfg->batch_ticks;
+			val->val2 = 0;
+		} else {
+			LOG_ERR("Unsupported attribute");
+			res = -EINVAL;
+		}
+		break;
 	default:
 		LOG_ERR("Unsupported channel");
 		res = -EINVAL;
@@ -272,7 +279,7 @@ int icm42688_init(const struct device *dev)
 	data->cfg.gyro_odr = ICM42688_GYRO_ODR_1000;
 	data->cfg.temp_dis = false;
 	data->cfg.fifo_en = IS_ENABLED(CONFIG_ICM42688_STREAM);
-	data->cfg.fifo_wm = 0;
+	data->cfg.batch_ticks = 0;
 	data->cfg.fifo_hires = 0;
 	data->cfg.interrupt1_drdy = 0;
 	data->cfg.interrupt1_fifo_ths = 0;
diff --git a/drivers/sensor/icm42688/icm42688.h b/drivers/sensor/icm42688/icm42688.h
index c4167e6a3b9cf4b..5ec470cff270c38 100644
--- a/drivers/sensor/icm42688/icm42688.h
+++ b/drivers/sensor/icm42688/icm42688.h
@@ -380,7 +380,7 @@ struct icm42688_cfg {
 	/* TODO timestamp options */
 
 	bool fifo_en;
-	uint16_t fifo_wm;
+	int32_t batch_ticks;
 	bool fifo_hires;
 	/* TODO additional FIFO options */
 
diff --git a/drivers/sensor/icm42688/icm42688_common.c b/drivers/sensor/icm42688/icm42688_common.c
index 9cb3037ed06ea3b..4df2f7870927665 100644
--- a/drivers/sensor/icm42688/icm42688_common.c
+++ b/drivers/sensor/icm42688/icm42688_common.c
@@ -62,6 +62,62 @@ int icm42688_reset(const struct device *dev)
 	return 0;
 }
 
+static uint16_t icm42688_compute_fifo_wm(const struct icm42688_cfg *cfg)
+{
+	const bool accel_enabled = cfg->accel_mode != ICM42688_ACCEL_OFF;
+	const bool gyro_enabled = cfg->gyro_mode != ICM42688_GYRO_OFF;
+	const int pkt_size = cfg->fifo_hires ? 20 : (accel_enabled && gyro_enabled ? 16 : 8);
+	int accel_modr = 0;
+	int gyro_modr = 0;
+	int64_t modr;
+
+	if (cfg->batch_ticks == 0 || (!accel_enabled && !gyro_enabled)) {
+		return 0;
+	}
+
+	if (accel_enabled) {
+		struct sensor_value val = {0};
+
+		icm42688_accel_reg_to_hz(cfg->accel_odr, &val);
+		accel_modr = sensor_value_to_micro(&val) / 1000;
+	}
+	if (gyro_enabled) {
+		struct sensor_value val = {0};
+
+		icm42688_gyro_reg_to_odr(cfg->gyro_odr, &val);
+		gyro_modr = sensor_value_to_micro(&val) / 1000;
+	}
+
+	if (accel_modr == 0) {
+		modr = gyro_modr;
+	} else if (gyro_modr == 0) {
+		modr = accel_modr;
+	} else {
+		/* Need to find the least common multiplier (LCM) */
+		int n1 = accel_modr;
+		int n2 = gyro_modr;
+
+		while (n1 != n2) {
+			if (n1 > n2) {
+				n1 -= n2;
+			} else {
+				n2 -= n1;
+			}
+		}
+		LOG_DBG("GCD=%d", n1);
+		modr = ((int64_t)accel_modr * (int64_t)gyro_modr) / n1;
+	}
+	/* At this point we have 'modr' as mHz which is 1 / msec. */
+
+	/* Convert 'modr' to bytes * batch_ticks / msec */
+	modr *= (int64_t)cfg->batch_ticks * pkt_size;
+
+	/* 'modr' = byte_ticks_per_msec / kticks_per_sec */
+	modr = DIV_ROUND_UP(modr, CONFIG_SYS_CLOCK_TICKS_PER_SEC * INT64_C(1000));
+
+	return (uint16_t)MIN(modr, 0x7ff);
+}
+
 int icm42688_configure(const struct device *dev, struct icm42688_cfg *cfg)
 {
 	struct icm42688_dev_data *dev_data = dev->data;
@@ -210,7 +266,8 @@ int icm42688_configure(const struct device *dev, struct icm42688_cfg *cfg)
 		}
 
 		/* Set watermark and interrupt handling first */
-		uint8_t fifo_wml = (cfg->fifo_wm) & 0xFF;
+		uint16_t fifo_wm = icm42688_compute_fifo_wm(cfg);
+		uint8_t fifo_wml = fifo_wm & 0xFF;
 
 		LOG_DBG("FIFO_CONFIG2( (0x%x)) (WM Low) 0x%x", REG_FIFO_CONFIG2, fifo_wml);
 		res = icm42688_spi_single_write(&dev_cfg->spi, REG_FIFO_CONFIG2, fifo_wml);
@@ -219,7 +276,7 @@ int icm42688_configure(const struct device *dev, struct icm42688_cfg *cfg)
 			return -EINVAL;
 		}
 
-		uint8_t fifo_wmh = (cfg->fifo_wm >> 8) & 0x0F;
+		uint8_t fifo_wmh = (fifo_wm >> 8) & 0x0F;
 
 		LOG_DBG("FIFO_CONFIG3 (0x%x) (WM High) 0x%x", REG_FIFO_CONFIG3, fifo_wmh);
 		res = icm42688_spi_single_write(&dev_cfg->spi, REG_FIFO_CONFIG3, fifo_wmh);
diff --git a/drivers/sensor/sensor_shell.c b/drivers/sensor/sensor_shell.c
index 5d41663c491db8a..bfeac4e452fd6ce 100644
--- a/drivers/sensor/sensor_shell.c
+++ b/drivers/sensor/sensor_shell.c
@@ -122,7 +122,7 @@ static const char *sensor_attribute_name[SENSOR_ATTR_COMMON_COUNT] = {
 	[SENSOR_ATTR_FEATURE_MASK] = "feature_mask",
 	[SENSOR_ATTR_ALERT] = "alert",
 	[SENSOR_ATTR_FF_DUR] = "ff_dur",
-	[SENSOR_ATTR_FIFO_WATERMARK] = "fifo_wm",
+	[SENSOR_ATTR_BATCH_DURATION] = "batch_dur",
 };
 
 /* Forward declaration */
diff --git a/include/zephyr/drivers/sensor.h b/include/zephyr/drivers/sensor.h
index dd37f298779fe3e..480bd0d52c98a9b 100644
--- a/include/zephyr/drivers/sensor.h
+++ b/include/zephyr/drivers/sensor.h
@@ -334,8 +334,10 @@ enum sensor_attribute {
 	 *  to the new sampling frequency.
 	 */
 	SENSOR_ATTR_FF_DUR,
-	/** Watermark % for the hardware fifo interrupt */
-	SENSOR_ATTR_FIFO_WATERMARK,
+
+	/** Hardware batch duration in ticks */
+	SENSOR_ATTR_BATCH_DURATION,
+
 	/**
 	 * Number of all common sensor attributes.
 	 */