diff --git a/src/rez/utils/memcached.py b/src/rez/utils/memcached.py
index 08ca603db..5581a3792 100644
--- a/src/rez/utils/memcached.py
+++ b/src/rez/utils/memcached.py
@@ -353,7 +353,10 @@ def wrapper(*nargs, **kwargs):
                     return result
         else:
             def wrapper(*nargs, **kwargs):
-                return func(*nargs, **kwargs)
+                result = func(*nargs, **kwargs)
+                if isinstance(result, DoNotCache):
+                    return result.result
+                return result
 
         def forget():
             """Forget entries in the cache.