This study determined the effect of the price-earnings ratio on corporate social responsibility of consumer good firms in Nigeria. The specific objective was to evaluate corporate social responsibility's influence on consumer goods firms' price-earnings ratio in Nigeria. The study adopted the Stakeholders theory as a theoretical framework. The study employed simple linear regression using panel data analysis to determine the influence of price-earnings ratio to CSR of consumer good firms for the period 2008-2017. The study results showed that corporate social responsibility has a significant and positive effect on the price-earnings ratio, while size has an insignificant effect on the sampled consumer goods firms in Nigeria. The recommendation regarding this study is that firms should engage in CSR activities to improve their image, goodwill, and profitability.