May-constant propagation is a technique used to propagate a constant through the call graph and control flow graph by ignoring possible kills and re-definitions with low probability. Variables associated with constants in program code are determined. Execution flow probabilities are executed for code segments of the program code that comprise the variables. The execution flow probabilities are calculated based on flow data for the program code. At least a first of the code segments is determined to have a high execution flow probability. The first of the constants associated with the first variable are propagated through the flow data to generate modified flow data.