Core Insights - Associated British Foods (ASBFY) is recognized as a high-quality business characterized by good margins and a strong balance sheet [1] - The conglomerate structure of the company may obscure some value, particularly by combining its more profitable clothing retail business with other segments [1] - The focus of international analysts is on identifying companies with durable competitive advantages and strong balance sheets, aiming to purchase shares when they are undervalued in the market [1]