Here is a quick and easy script to enable viewing a FPS counter on the Oculus Rift and GearVR using Unity UGUI.

Follow these steps:

  1. RIght Click on your VR Camera (or Center Eye Camera) and create a UI->Canvas.
    Set it to World Space.
    Set it’s position to X:0 Y:0 and Z:0.5 (to push it out in front of the camera)
    Scale it down to 0.001 (X,Y and Z) so it fits in front of the user
  2. Right Click on your new Canvas and create a UI->Text.
  3. Drag the script blow onto that Text game object

That’s it. Hit run. Press ‘F’ key to toggle the FPS.

Note: It uses the new fancy Unity 5 Time.unscaledDeltaTime property ! (Thanks to Adrian Butt for the tip)

using UnityEngine;
using UnityEngine.UI;

// Display FPS on a Unity UGUI Text Panel
// To use: Drag onto a game object with Text component
//         Press 'F' key to toggle show/hide
public class TextFPSCounter : MonoBehaviour 
    public Text text;
    public bool show = false;

    private const int targetFPS = 
    private const float updateInterval = 0.5f;

    private int framesCount; 
    private float framesTime; 

    void Start()
        // no text object set? see if our gameobject has one to use
        if (text == null) 
            text = GetComponent<Text>(); 
    void Update()
        if (Input.GetKeyDown(KeyCode.F))
            show = !show;

        // monitoring frame counter and the total time
        framesTime += Time.unscaledDeltaTime; 

        // measuring interval ended, so calculate FPS and display on Text
        if (framesTime > updateInterval)
            if (text != null)
                if (show)
                    float fps = framesCount/framesTime;
                    text.text = System.String.Format("{0:F2} FPS", fps);
                    text.color = (fps > (targetFPS-5) ? :
                                 (fps > (targetFPS-30) ?  Color.yellow : 
                    text.text = "";
            // reset for the next interval to measure
            framesCount = 0;
            framesTime = 0;
TextFPSCounter.cs Download - FPS Demo Unity Package