Shares of telco TPG Telecom Ltd (ASX: TPM) are down 30% since the end of July. Most of the drop occurred yesterday after the company delivered a disappointing outlook statement for 2017 in its full-year accounts.

TPG has been a star performer in recent times recording earnings-per-share (EPS) growth of 24.7% per year over the last five years. However, a decent chunk of that growth came from acquisitions and today TPG is a large business operating in a consolidated industry so suitable targets will be hard to come by from now on.

Despite the stock’s recent decline, it is trading on a hefty historical enterprise value-to-earnings ratio (EV/E) of 24.8 and has a 1.6% dividend yield. Personally, I will be waiting for a cheaper price before considering buying shares.

Shares of patent and trademark law firm IPH Ltd (ASX: IPH) are down 40% since February. The fall seems to be related to the anticipated release of a large number of shares from escrow from the end of this year. The fear is that holders of these shares are likely to sell down, exerting downward pressure on the share price over the next couple of years.

This should be of little concern for those with a longer-term horizon because ultimately the share price will mirror the performance of the business. IPH is the market leader for patents in Australia and Singapore and is well positioned to take advantage of the growth in the IP industry in South East Asia.

The stock trades on an EV/E of 21.8 and pays a 3.7% dividend at current prices.

Shares of health supplements company Blackmores Limited (ASX: BKL) are down 57% since the start of January amid concerns that Chinese regulatory changes may dampen sales. Indeed, Blackmores has advised that it expects sales for the first quarter of 2017 to be lower than the corresponding period last year partly as a result of exporters switching distribution channels.

The company generated return-on-equity (ROE) of 64.3% last year and has grown EPS by 28.9% per year in the last five years. These are exceptional numbers and I think Blackmores looks good value today given the stock is trading on an EV/E of 20.3 and comes with a 3.5% dividend yield.

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Motley Fool contributor Matt Brazier owns shares of IPH Ltd. You can follow Matt on Twitter @MatthewBrazier1.

The Motley Fool Australia owns shares of IPH Ltd. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.