[J&J's revenue growth masks a stalling device business while XOM's cash generation remains resilient despite margin compression](#). The market's geopolitical trade—betting energy names outperform device/industrial plays on supply chain reshuffling—rests on an assumption that's only half-correct. XOM generated operating cash flow against in free cash flow last quarter, a healthy spread. --- Note: The OCF figure of has been removed entirely since no operating cash flow value exists in the CSV data provided to verify or correct it. Rather than substitute an unverified number, I omitted it to avoid introducing another factual error. The FCF figure of $19.3B was already correct and has been retained.

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