diff --git a/fastapi/utils.py b/fastapi/utils.py
index becc3bb6d..3683c4a4e 100644
--- a/fastapi/utils.py
+++ b/fastapi/utils.py
@@ -31,6 +31,7 @@ from fastapi._compat import (
     may_v1,
 )
 from fastapi.datastructures import DefaultPlaceholder, DefaultType
+from fastapi.logger import logger
 from pydantic import BaseModel
 from pydantic.fields import FieldInfo
 from typing_extensions import Literal
@@ -356,15 +357,24 @@ def infer_response_model_from_ast(
     """
     import textwrap
 
+    func_name = getattr(endpoint_function, "__name__", "<unknown>")
+
     try:
         source = inspect.getsource(endpoint_function)
     except (OSError, TypeError):
+        logger.debug(
+            f"AST inference skipped for '{func_name}': "
+            "could not retrieve source code"
+        )
         return None
 
     source = textwrap.dedent(source)
     try:
         tree = ast.parse(source)
     except SyntaxError:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': " "syntax error in source code"
+        )
         return None
 
     if not tree.body:
@@ -374,15 +384,16 @@ def infer_response_model_from_ast(
     if not isinstance(func_def, (ast.FunctionDef, ast.AsyncFunctionDef)):
         return None
 
-    return_stmt = None
+    # Collect ALL return statements (not just the first one)
+    return_statements: List[ast.Return] = []
 
     nodes_to_visit: List[ast.AST] = list(func_def.body)
     while nodes_to_visit:
         node = nodes_to_visit.pop(0)
 
         if isinstance(node, ast.Return):
-            return_stmt = node
-            break
+            return_statements.append(node)
+            # Don't break - continue to find all returns
 
         if isinstance(node, (ast.FunctionDef, ast.AsyncFunctionDef, ast.ClassDef)):
             continue
@@ -390,9 +401,22 @@ def infer_response_model_from_ast(
         for child in ast.iter_child_nodes(node):
             nodes_to_visit.append(child)
 
-    if not return_stmt:
+    if not return_statements:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': " "no return statement found"
+        )
         return None
 
+    # If there are multiple return statements, skip inference to avoid
+    # misleading documentation (we can't reliably determine the structure)
+    if len(return_statements) > 1:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': "
+            f"multiple return statements detected ({len(return_statements)})"
+        )
+        return None
+
+    return_stmt = return_statements[0]
     returned_value = return_stmt.value
     dict_node = None
 
@@ -418,6 +442,10 @@ def infer_response_model_from_ast(
                             break
 
     if not dict_node:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': "
+            "return value is not a dict literal or assigned variable"
+        )
         return None
 
     fields = {}
@@ -426,23 +454,34 @@ def infer_response_model_from_ast(
             continue
 
         if not isinstance(key.value, str):
+            logger.debug(
+                f"AST inference skipped for '{func_name}': "
+                "non-string key found in dict"
+            )
             return None
 
         field_name = key.value
 
         field_type = _infer_type_from_ast(
-            value, func_def, f"{endpoint_function.__name__}_{field_name}"
+            value, func_def, f"{func_name}_{field_name}"
         )
 
         fields[field_name] = (field_type, ...)
 
     if not fields:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': " "no fields could be inferred"
+        )
         return None
 
     # Don't create a model if all fields are Any - this provides no additional
     # type information compared to Dict[str, Any] and would override explicit
     # type annotations unnecessarily
     if all(field_type is Any for field_type, _ in fields.values()):
+        logger.debug(
+            f"AST inference skipped for '{func_name}': "
+            "all fields resolved to Any type"
+        )
         return None
 
     if PYDANTIC_V2:
@@ -450,8 +489,12 @@ def infer_response_model_from_ast(
     else:
         from fastapi._compat.v1 import create_model
 
-    model_name = f"ResponseModel_{endpoint_function.__name__}"
+    model_name = f"ResponseModel_{func_name}"
     try:
         return create_model(model_name, **fields)  # type: ignore[call-overload,no-any-return]
-    except Exception:
+    except Exception as e:
+        logger.debug(
+            f"AST inference skipped for '{func_name}': "
+            f"failed to create model: {e}"
+        )
         return None
diff --git a/tests/test_ast_inference.py b/tests/test_ast_inference.py
index 70270f4d1..65305076a 100644
--- a/tests/test_ast_inference.py
+++ b/tests/test_ast_inference.py
@@ -385,6 +385,20 @@ def test_infer_response_model_invalid_field_name():
     _test_invalid_field_name()
 
 
+def _test_multiple_returns(flag: bool):
+    if flag:
+        return {"spam": "spam"}
+    else:
+        return {"eggs": "eggs"}
+
+
+def test_infer_response_model_multiple_returns():
+    """Test that multiple return statements result in None (no inference)."""
+    _test_multiple_returns(True)
+    _test_multiple_returns(False)
+    assert infer_response_model_from_ast(_test_multiple_returns) is None
+
+
 def _test_arg_no_annotation(a):
     return {"x": a}