The investigation of business performance through the lens of sustainability has become an increasingly attractive topic among scholars. This study contributes to the field by proposing a two-stage methodology. First, to assess companies' efficiency in terms of sustainability, the scores of the Environmental, Social and Governance (ESG) pillars are combined into the single weighted sustainability performance indicator using the 'Benefit of Doubt' (BoD) model, which is maximized for each company by comparing it against the best performers in terms of ESG scores based on Data Envelopment Analysis (DEA). Then, in the second stage, the significant determinants are identified after the efficiency estimates are regressed on the company performance indicators using Tobit panel regression. To demonstrate this approach, we selected 559 companies from the manufacturing sector, as this industry continues to face challenges in reducing environmental impact, improving resource efficiency, and fostering social responsibility. The main findings include the examination of top performers and underperforming companies in terms of sustainability, alongside key financial indicators identified in the study.