This study aims to investigate the relationship between the ESG score evaluated by LSEG (London Stock Exchange Group) and the performance of 114 companies listed on the Stock Exchange of Thailand between 2021-2023, with 342 observations. We are using the multiple regression analysis. Our findings indicate that the ESG score has no statistically significant relationship with accounting-based measured by return on assets (ROA) and return on equity (ROE) ratios. However, we found a statistically significant positive relationship with market-based measured by Tobin’s Q ratio, which supports the stakeholder theory.