diff --git a/crates/oxc_codegen/src/gen.rs b/crates/oxc_codegen/src/gen.rs
index 937524494dd87..f5cee102b14d3 100644
--- a/crates/oxc_codegen/src/gen.rs
+++ b/crates/oxc_codegen/src/gen.rs
@@ -1337,7 +1337,7 @@ impl Gen for StringLiteral<'_> {
     fn gen(&self, p: &mut Codegen, _ctx: Context) {
         p.add_source_mapping(self.span);
         let s = self.value.as_str();
-        p.print_quoted_utf16(s);
+        p.print_quoted_utf16(s, /* allow_backtick */ true);
     }
 }
 
@@ -1647,6 +1647,9 @@ impl Gen for PropertyKey<'_> {
         match self {
             Self::StaticIdentifier(ident) => ident.print(p, ctx),
             Self::PrivateIdentifier(ident) => ident.print(p, ctx),
+            Self::StringLiteral(s) => {
+                p.print_quoted_utf16(s.value.as_str(), /* allow_backtick */ false);
+            }
             match_expression!(Self) => {
                 self.to_expression().print_expr(p, Precedence::Comma, Context::empty());
             }
diff --git a/crates/oxc_codegen/src/lib.rs b/crates/oxc_codegen/src/lib.rs
index daf8d22ca0129..5fb02ce4306b6 100644
--- a/crates/oxc_codegen/src/lib.rs
+++ b/crates/oxc_codegen/src/lib.rs
@@ -587,7 +587,7 @@ impl<'a> Codegen<'a> {
         }
     }
 
-    fn print_quoted_utf16(&mut self, s: &str) {
+    fn print_quoted_utf16(&mut self, s: &str, allow_backtick: bool) {
         let quote = if self.options.minify {
             let mut single_cost: u32 = 0;
             let mut double_cost: u32 = 0;
@@ -595,18 +595,10 @@ impl<'a> Codegen<'a> {
             let mut bytes = s.as_bytes().iter().peekable();
             while let Some(b) = bytes.next() {
                 match b {
-                    b'\n' if self.options.minify => {
-                        backtick_cost = backtick_cost.saturating_sub(1);
-                    }
-                    b'\'' => {
-                        single_cost += 1;
-                    }
-                    b'"' => {
-                        double_cost += 1;
-                    }
-                    b'`' => {
-                        backtick_cost += 1;
-                    }
+                    b'\n' if self.options.minify => backtick_cost = backtick_cost.saturating_sub(1),
+                    b'\'' => single_cost += 1,
+                    b'"' => double_cost += 1,
+                    b'`' => backtick_cost += 1,
                     b'$' => {
                         if bytes.peek() == Some(&&b'{') {
                             backtick_cost += 1;
@@ -618,10 +610,10 @@ impl<'a> Codegen<'a> {
             let mut quote = b'"';
             if double_cost > single_cost {
                 quote = b'\'';
-                if single_cost > backtick_cost {
+                if single_cost > backtick_cost && allow_backtick {
                     quote = b'`';
                 }
-            } else if double_cost > backtick_cost {
+            } else if double_cost > backtick_cost && allow_backtick {
                 quote = b'`';
             }
             quote
diff --git a/crates/oxc_codegen/tests/integration/unit.rs b/crates/oxc_codegen/tests/integration/unit.rs
index 1a8525f828e94..36d66059d2d89 100644
--- a/crates/oxc_codegen/tests/integration/unit.rs
+++ b/crates/oxc_codegen/tests/integration/unit.rs
@@ -43,6 +43,8 @@ fn expr() {
         r#";'eval("\'\\vstr\\ving\\v\'") === "\\vstr\\ving\\v"'"#,
         r#";`eval("'\\vstr\\ving\\v'") === "\\vstr\\ving\\v"`;"#,
     );
+
+    test_minify_same(r#"({"http://a\r\" \n<'b:b@c\r\nd/e?f":{}});"#);
 }
 
 #[test]