You may recall that in the October issue of FundInvestor Mike Breen wrote about how funds with holdings that had significant debt got hammered even if those companies remained profitable through the recession. He found that some funds had all or nearly all their holdings remain profitable but still got hammered. 

So that you can get an idea where your fund stands, we've published the complete list of Morningstar 500 U.S. stock funds' profitability, financial health, and debt. It should help you to understand your funds a little better and to even add another layer of diversification to your portfolio.

To find the table, go to http://mfi.morningstar.com, click on the newsletter tab, and go to the section titled "Download Bonus Reports."

The report has a profitability score and financial health score based on rolled-up statistics on each fund's entire portfolio. There's also a percentage of firms that are profitable measure.

Impressively, a number of funds have an entire portfolio of profitable companies. Funds such as Manning & Napier Equity, Marsico Focus, Oak Value, and Appleseed are among them.

We also have a price/earnings ratio based on the trailing 12 months of reported earnings, debt to capital %, and average free cash flow to market cap, also known as the free cash-flow yield. Generating high free cash flow is a sign of a successful company. A high average free cash flow to market cap indicates that a fund is full of firms with strong free cash flow.