What is PepsiCo's deferred taxes?

PepsiCo (PEP) reported deferred taxes of $494M in Q2 2026.

How has PepsiCo's deferred taxes changed year-over-year?

PepsiCo's deferred taxes increased by 290.0% year-over-year, from -$260M to $494M.

What is the long-term trend for PepsiCo's deferred taxes?

Over 3 years (2022 to 2025), PepsiCo's deferred taxes has grown at a -56.7% compound annual growth rate (CAGR), from -$873M to $71M.

What does deferred taxes mean?

Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.

PepsiCo PEP Deferred Taxes

Deferred Taxes at other companies

Campbell SoupCPB

$41M+165%

Coca-ColaKO

$148M-59.3%

General MillsGIS

$63.8M+159%

HersheyHSY

$26.16M+314%

National BeverageFIZZ

$3.53M+854%

Coca-Cola Consolidated, Inc.COKE

$38.93M+10.3%

Other financials

Income statement

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Revenue$24.2B+6.4%

Gross profit$13.1B+5.5%

Operating income$4.0B+125%

Net income$3.0B+136%

EPS (diluted)$2.18+137%

Balance sheet

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Cash & equivalents$10.3B+33.6%

Total debt$53.2B+3.6%

Total equity$22.1B+20.0%

Total assets$112.19B+6.5%

Cash flow

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Operating cash flow$2.4B+137%

CapEx$1.3B-16.0%

Free cash flow$1.1B+315%

Valuation

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Market cap$190.8B-1.6%

Enterprise value$233.71B-1.6%

P/E18.3×-7.4×

P/S2×-0.1×

Profitability

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Gross margin54%-0.5pp

Operating margin14.8%+3.4pp

Net margin10.8%+2.6pp

FCF margin10.8%+3.0pp

Returns & leverage

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Return on equity51.6%+11.7pp

Debt / equity2.4×-0.4×

Current ratio0.9×+0.2×

Where this comes from

Reported directly by PepsiCo in its filing.

Tagged under the XBRL concept us-gaap:DeferredIncomeTaxesAndTaxCredits.

The official record: PepsiCo’s 10-Q, filed July 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is PepsiCo's deferred taxes?: PepsiCo (PEP) reported deferred taxes of $494M in Q2 2026.
How has PepsiCo's deferred taxes changed year-over-year?: PepsiCo's deferred taxes increased by 290.0% year-over-year, from -$260M to $494M.
What is the long-term trend for PepsiCo's deferred taxes?: Over 3 years (2022 to 2025), PepsiCo's deferred taxes has grown at a -56.7% compound annual growth rate (CAGR), from -$873M to $71M.
What does deferred taxes mean?: Non-cash deferred tax expense or benefit representing the change in deferred tax assets/liabilities during the period.