diff --git a/esphome/__main__.py b/esphome/__main__.py
index 8c80dab90af..781bcd62885 100644
--- a/esphome/__main__.py
+++ b/esphome/__main__.py
@@ -21,7 +21,7 @@ import argcomplete
 # Note: Do not import modules from esphome.components here, as this would
 # cause them to be loaded before external components are processed, resulting
 # in the built-in version being used instead of the external component one.
-from esphome import const, writer, yaml_util
+from esphome import const
 import esphome.codegen as cg
 from esphome.config import iter_component_configs, read_config, strip_default_ids
 from esphome.const import (
@@ -72,7 +72,12 @@ from esphome.util import (
     run_external_process,
     safe_print,
 )
-from esphome.zeroconf import discover_mdns_devices
+
+# Keep expensive imports (zeroconf, writer, yaml_util, etc.) out of this
+# module's top level. Every `esphome` invocation — including fast paths
+# like `esphome version` — pays the cost of what's imported here before
+# any command runs. Import inside the function that needs it instead.
+# `script/check_import_time.py` enforces a budget in CI.
 
 _LOGGER = logging.getLogger(__name__)
 
@@ -241,6 +246,8 @@ def _discover_mac_suffix_devices() -> list[str] | None:
     """
     if not (has_name_add_mac_suffix() and has_mdns() and has_non_ip_address()):
         return None
+    from esphome.zeroconf import discover_mdns_devices
+
     _LOGGER.info("Discovering devices...")
     if not (discovered := discover_mdns_devices(CORE.name)):
         _LOGGER.warning(
@@ -660,7 +667,7 @@ def run_miniterm(config: ConfigType, port: str, args) -> int:
     return 0
 
 
-def wrap_to_code(name, comp):
+def _wrap_to_code(name, comp, yaml_util):
     coro = coroutine(comp.to_code)
 
     @functools.wraps(comp.to_code)
@@ -680,6 +687,8 @@ def wrap_to_code(name, comp):
 
 
 def write_cpp(config: ConfigType, native_idf: bool = False) -> int:
+    from esphome import writer
+
     if not get_bool_env(ENV_NOGITIGNORE):
         writer.write_gitignore()
 
@@ -691,17 +700,21 @@ def write_cpp(config: ConfigType, native_idf: bool = False) -> int:
 
 
 def generate_cpp_contents(config: ConfigType) -> None:
+    from esphome import yaml_util
+
     _LOGGER.info("Generating C++ source...")
 
     for name, component, conf in iter_component_configs(CORE.config):
         if component.to_code is not None:
-            coro = wrap_to_code(name, component)
+            coro = _wrap_to_code(name, component, yaml_util)
             CORE.add_job(coro, conf)
 
     CORE.flush_tasks()
 
 
 def write_cpp_file(native_idf: bool = False) -> int:
+    from esphome import writer
+
     code_s = indent(CORE.cpp_main_section)
     writer.write_cpp(code_s)
 
@@ -1180,6 +1193,8 @@ def command_wizard(args: ArgsProtocol) -> int | None:
 
 
 def command_config(args: ArgsProtocol, config: ConfigType) -> int | None:
+    from esphome import yaml_util
+
     if not CORE.verbose:
         config = strip_default_ids(config)
     output = yaml_util.dump(config, args.show_secrets)
@@ -1321,6 +1336,8 @@ def command_clean_mqtt(args: ArgsProtocol, config: ConfigType) -> int | None:
 
 
 def command_clean_all(args: ArgsProtocol) -> int | None:
+    from esphome import writer
+
     try:
         writer.clean_all(args.configuration)
     except OSError as err:
@@ -1336,6 +1353,8 @@ def command_version(args: ArgsProtocol) -> int | None:
 
 
 def command_clean(args: ArgsProtocol, config: ConfigType) -> int | None:
+    from esphome import writer
+
     try:
         writer.clean_build()
     except OSError as err:
@@ -1538,6 +1557,8 @@ def command_analyze_memory(args: ArgsProtocol, config: ConfigType) -> int:
 
 
 def command_rename(args: ArgsProtocol, config: ConfigType) -> int | None:
+    from esphome import yaml_util
+
     new_name = args.name
     for c in new_name:
         if c not in ALLOWED_NAME_CHARS:
diff --git a/esphome/config.py b/esphome/config.py
index 6eb67af58b3..79d0d2b02ba 100644
--- a/esphome/config.py
+++ b/esphome/config.py
@@ -25,7 +25,10 @@ from esphome.const import (
     CONF_SUBSTITUTIONS,
 )
 from esphome.core import CORE, DocumentRange, EsphomeError
-import esphome.core.config as core_config
+
+# `esphome.core.config` is imported lazily at its two use sites below.
+# It pulls in `esphome.automation` and `esphome.config_validation`, which
+# dominate `esphome.__main__` startup cost when loaded eagerly here.
 import esphome.final_validate as fv
 from esphome.helpers import indent
 from esphome.loader import ComponentManifest, get_component, get_platform
@@ -968,6 +971,8 @@ class CoreFinalValidateStep(ConfigValidationStep):
         if result.errors:
             return
 
+        import esphome.core.config as core_config
+
         token = fv.full_config.set(result)
         with result.catch_error([CONF_ESPHOME]):
             if CONF_ESPHOME in result:
@@ -1073,6 +1078,8 @@ def validate_config(
         return result
 
     # 2. Load partial core config
+    import esphome.core.config as core_config
+
     result[CONF_ESPHOME] = config[CONF_ESPHOME]
     result.add_output_path([CONF_ESPHOME], CONF_ESPHOME)
     try:
diff --git a/esphome/loader.py b/esphome/loader.py
index 2405fa6f884..d50554f8c93 100644
--- a/esphome/loader.py
+++ b/esphome/loader.py
@@ -9,14 +9,23 @@ import logging
 from pathlib import Path
 import sys
 from types import ModuleType
-from typing import Any
+from typing import TYPE_CHECKING, Any
 
 from esphome.const import SOURCE_FILE_EXTENSIONS
 from esphome.core import CORE
-import esphome.core.config
-from esphome.cpp_generator import MockObjClass
 from esphome.types import ConfigType
 
+if TYPE_CHECKING:
+    from esphome.cpp_generator import MockObjClass
+
+# `esphome.core.config` is imported lazily in `_lookup_module` when the
+# "esphome" pseudo-component is first resolved. It pulls in
+# `esphome.automation` and `esphome.config_validation`, which together
+# dominate `esphome.__main__` startup cost when loaded eagerly.
+# `esphome.cpp_generator` is similarly avoided at module scope; it pulls
+# in `esphome.yaml_util` and is only needed for the `MockObjClass` type
+# annotation, which is resolved lazily via `TYPE_CHECKING`.
+
 _LOGGER = logging.getLogger(__name__)
 
 
@@ -94,7 +103,7 @@ class ComponentManifest:
         return getattr(self.module, "CODEOWNERS", [])
 
     @property
-    def instance_type(self) -> MockObjClass | None:
+    def instance_type(self) -> "MockObjClass | None":
         return getattr(self.module, "INSTANCE_TYPE", None)
 
     @property
@@ -213,6 +222,13 @@ def _lookup_module(domain: str, exception: bool) -> ComponentManifest | None:
     if domain in _COMPONENT_CACHE:
         return _COMPONENT_CACHE[domain]
 
+    if domain == "esphome":
+        import esphome.core.config
+
+        manif = ComponentManifest(esphome.core.config, recursive_sources=True)
+        _COMPONENT_CACHE[domain] = manif
+        return manif
+
     try:
         module = importlib.import_module(f"esphome.components.{domain}")
     except ImportError as e:
@@ -248,9 +264,6 @@ def get_platform(domain: str, platform: str) -> ComponentManifest | None:
 
 _COMPONENT_CACHE: dict[str, ComponentManifest] = {}
 CORE_COMPONENTS_PATH = (Path(__file__).parent / "components").resolve()
-_COMPONENT_CACHE["esphome"] = ComponentManifest(
-    esphome.core.config, recursive_sources=True
-)
 
 
 def _replace_component_manifest(domain: str, manifest: ComponentManifest) -> None:
diff --git a/script/import_time_budget.json b/script/import_time_budget.json
index 1e656dc9776..af3aa835113 100644
--- a/script/import_time_budget.json
+++ b/script/import_time_budget.json
@@ -1,5 +1,5 @@
 {
   "target_module": "esphome.__main__",
   "margin_pct": 15,
-  "cumulative_us": 123000
+  "cumulative_us": 91000
 }
diff --git a/tests/unit_tests/test_main.py b/tests/unit_tests/test_main.py
index 8ec9e70cf85..fb8f206a1d2 100644
--- a/tests/unit_tests/test_main.py
+++ b/tests/unit_tests/test_main.py
@@ -2605,7 +2605,7 @@ def test_choose_upload_log_host_discovers_mac_suffix_devices(tmp_path: Path) ->
     }
     with (
         patch(
-            "esphome.__main__.discover_mdns_devices", return_value=discovered
+            "esphome.zeroconf.discover_mdns_devices", return_value=discovered
         ) as mock_discover,
         patch(
             "esphome.__main__.choose_prompt", return_value="mydevice-abc123.local"
@@ -2653,7 +2653,7 @@ def test_choose_upload_log_host_mac_suffix_no_devices_found(
     )
 
     with (
-        patch("esphome.__main__.discover_mdns_devices", return_value={}),
+        patch("esphome.zeroconf.discover_mdns_devices", return_value={}),
         caplog.at_level(logging.WARNING, logger="esphome.__main__"),
         pytest.raises(EsphomeError),
     ):
@@ -2686,7 +2686,7 @@ def test_choose_upload_log_host_default_ota_discovers_mac_suffix(
         "mydevice-def456.local": ["10.0.0.2"],
     }
     with patch(
-        "esphome.__main__.discover_mdns_devices", return_value=discovered
+        "esphome.zeroconf.discover_mdns_devices", return_value=discovered
     ) as mock_discover:
         result = choose_upload_log_host(
             default="OTA",
@@ -2715,7 +2715,7 @@ def test_choose_upload_log_host_default_ota_no_suffix_discovery(
         name="mydevice",
     )
 
-    with patch("esphome.__main__.discover_mdns_devices") as mock_discover:
+    with patch("esphome.zeroconf.discover_mdns_devices") as mock_discover:
         result = choose_upload_log_host(
             default="OTA",
             check_default=None,