diff --git a/drivers/iio/dac/ad5686.c b/drivers/iio/dac/ad5686.c
index 2e443fcfeb39..a7213bc6b156 100644
--- a/drivers/iio/dac/ad5686.c
+++ b/drivers/iio/dac/ad5686.c
@@ -25,26 +25,37 @@ static const char * const ad5686_powerdown_modes[] = {
 	"three_state"
 };
 
+static inline unsigned int ad5686_pd_mask_shift(const struct iio_chan_spec *chan)
+{
+	if (chan->channel == chan->address)
+		return chan->channel * 2;
+
+	/* one-hot encoding is used in dual/quad channel devices */
+	return __ffs(chan->address) * 2;
+}
+
 static int ad5686_get_powerdown_mode(struct iio_dev *indio_dev,
 				     const struct iio_chan_spec *chan)
 {
+	unsigned int shift = ad5686_pd_mask_shift(chan);
 	struct ad5686_state *st = iio_priv(indio_dev);
 
 	guard(mutex)(&st->lock);
 
-	return ((st->pwr_down_mode >> (chan->channel * 2)) & 0x3) - 1;
+	return ((st->pwr_down_mode >> shift) & 0x3U) - 1;
 }
 
 static int ad5686_set_powerdown_mode(struct iio_dev *indio_dev,
 				     const struct iio_chan_spec *chan,
 				     unsigned int mode)
 {
+	unsigned int shift = ad5686_pd_mask_shift(chan);
 	struct ad5686_state *st = iio_priv(indio_dev);
 
 	guard(mutex)(&st->lock);
 
-	st->pwr_down_mode &= ~(0x3 << (chan->channel * 2));
-	st->pwr_down_mode |= ((mode + 1) << (chan->channel * 2));
+	st->pwr_down_mode &= ~(0x3U << shift);
+	st->pwr_down_mode |= (mode + 1) << shift;
 
 	return 0;
 }
@@ -59,12 +70,12 @@ static const struct iio_enum ad5686_powerdown_mode_enum = {
 static ssize_t ad5686_read_dac_powerdown(struct iio_dev *indio_dev,
 		uintptr_t private, const struct iio_chan_spec *chan, char *buf)
 {
+	unsigned int shift = ad5686_pd_mask_shift(chan);
 	struct ad5686_state *st = iio_priv(indio_dev);
 
 	guard(mutex)(&st->lock);
 
-	return sysfs_emit(buf, "%d\n", !!(st->pwr_down_mask &
-				       (0x3 << (chan->channel * 2))));
+	return sysfs_emit(buf, "%d\n", !!(st->pwr_down_mask & (0x3U << shift)));
 }
 
 static ssize_t ad5686_write_dac_powerdown(struct iio_dev *indio_dev,
@@ -86,9 +97,9 @@ static ssize_t ad5686_write_dac_powerdown(struct iio_dev *indio_dev,
 	guard(mutex)(&st->lock);
 
 	if (readin)
-		st->pwr_down_mask |= (0x3 << (chan->channel * 2));
+		st->pwr_down_mask |= 0x3U << ad5686_pd_mask_shift(chan);
 	else
-		st->pwr_down_mask &= ~(0x3 << (chan->channel * 2));
+		st->pwr_down_mask &= ~(0x3U << ad5686_pd_mask_shift(chan));
 
 	switch (st->chip_info->regmap_type) {
 	case AD5310_REGMAP:
@@ -468,7 +479,7 @@ int ad5686_probe(struct device *dev,
 {
 	struct ad5686_state *st;
 	struct iio_dev *indio_dev;
-	unsigned int val, ref_bit_msk;
+	unsigned int val, ref_bit_msk, shift;
 	bool has_external_vref;
 	u8 cmd;
 	int ret, i;
@@ -492,9 +503,18 @@ int ad5686_probe(struct device *dev,
 	has_external_vref = ret != -ENODEV;
 	st->vref_mv = has_external_vref ? ret / 1000 : st->chip_info->int_vref_mv;
 
+	/* Initialize masks to all ones provided the max shift (last channel) */
+	shift = ad5686_pd_mask_shift(&st->chip_info->channels[st->chip_info->num_channels - 1]);
+	st->pwr_down_mask = GENMASK(shift + 1, 0);
+	st->pwr_down_mode = GENMASK(shift + 1, 0);
+
 	/* Set all the power down mode for all channels to 1K pulldown */
-	for (i = 0; i < st->chip_info->num_channels; i++)
-		st->pwr_down_mode |= (0x01 << (i * 2));
+	for (i = 0; i < st->chip_info->num_channels; i++) {
+		shift = ad5686_pd_mask_shift(&st->chip_info->channels[i]);
+		st->pwr_down_mask &= ~(0x3U << shift); /* powered up state */
+		st->pwr_down_mode &= ~(0x3U << shift);
+		st->pwr_down_mode |= 0x01U << shift;
+	}
 
 	indio_dev->name = name;
 	indio_dev->info = &ad5686_info;