diff --git a/esphome/components/api/api_connection.h b/esphome/components/api/api_connection.h
index 60cc3e91b11..68f698d1902 100644
--- a/esphome/components/api/api_connection.h
+++ b/esphome/components/api/api_connection.h
@@ -17,6 +17,9 @@
 #ifdef USE_ESP32_CRASH_HANDLER
 #include "esphome/components/esp32/crash_handler.h"
 #endif
+#ifdef USE_RP2040_CRASH_HANDLER
+#include "esphome/components/rp2040/crash_handler.h"
+#endif
 #include "esphome/core/entity_base.h"
 #include "esphome/core/string_ref.h"
 
@@ -240,6 +243,9 @@ class APIConnection final : public APIServerConnectionBase {
       App.schedule_dump_config();
 #ifdef USE_ESP32_CRASH_HANDLER
     esp32::crash_handler_log();
+#endif
+#ifdef USE_RP2040_CRASH_HANDLER
+    rp2040::crash_handler_log();
 #endif
   }
 #ifdef USE_API_HOMEASSISTANT_SERVICES
diff --git a/esphome/components/esp32_hosted/__init__.py b/esphome/components/esp32_hosted/__init__.py
index 6d49053d6d5..a51ae2cd666 100644
--- a/esphome/components/esp32_hosted/__init__.py
+++ b/esphome/components/esp32_hosted/__init__.py
@@ -105,7 +105,7 @@ async def to_code(config):
     if framework_ver >= cv.Version(5, 5, 0):
         esp32.add_idf_component(name="espressif/esp_wifi_remote", ref="1.4.0")
         esp32.add_idf_component(name="espressif/eppp_link", ref="1.1.4")
-        esp32.add_idf_component(name="espressif/esp_hosted", ref="2.12.0")
+        esp32.add_idf_component(name="espressif/esp_hosted", ref="2.12.1")
     else:
         esp32.add_idf_component(name="espressif/esp_wifi_remote", ref="0.13.0")
         esp32.add_idf_component(name="espressif/eppp_link", ref="0.2.0")
diff --git a/esphome/components/ethernet/ethernet_component.cpp b/esphome/components/ethernet/ethernet_component.cpp
index d6b0d40cd95..e0788e11498 100644
--- a/esphome/components/ethernet/ethernet_component.cpp
+++ b/esphome/components/ethernet/ethernet_component.cpp
@@ -21,22 +21,6 @@
 
 namespace esphome::ethernet {
 
-#if ESP_IDF_VERSION < ESP_IDF_VERSION_VAL(5, 4, 2)
-// work around IDF compile issue on P4 https://github.com/espressif/esp-idf/pull/15637
-#ifdef USE_ESP32_VARIANT_ESP32P4
-#undef ETH_ESP32_EMAC_DEFAULT_CONFIG
-#define ETH_ESP32_EMAC_DEFAULT_CONFIG() \
-  { \
-    .smi_gpio = {.mdc_num = 31, .mdio_num = 52}, .interface = EMAC_DATA_INTERFACE_RMII, \
-    .clock_config = {.rmii = {.clock_mode = EMAC_CLK_EXT_IN, .clock_gpio = (emac_rmii_clock_gpio_t) 50}}, \
-    .dma_burst_len = ETH_DMA_BURST_LEN_32, .intr_priority = 0, \
-    .emac_dataif_gpio = \
-        {.rmii = {.tx_en_num = 49, .txd0_num = 34, .txd1_num = 35, .crs_dv_num = 28, .rxd0_num = 29, .rxd1_num = 30}}, \
-    .clock_config_out_in = {.rmii = {.clock_mode = EMAC_CLK_EXT_IN, .clock_gpio = (emac_rmii_clock_gpio_t) -1}}, \
-  }
-#endif
-#endif
-
 static const char *const TAG = "ethernet";
 
 // PHY register size for hex logging
@@ -162,7 +146,7 @@ void EthernetComponent::setup() {
   phy_config.phy_addr = this->phy_addr_;
   phy_config.reset_gpio_num = this->power_pin_;
 
-  eth_esp32_emac_config_t esp32_emac_config = ETH_ESP32_EMAC_DEFAULT_CONFIG();
+  eth_esp32_emac_config_t esp32_emac_config = eth_esp32_emac_default_config();
 #if ESP_IDF_VERSION >= ESP_IDF_VERSION_VAL(5, 3, 0)
   esp32_emac_config.smi_gpio.mdc_num = this->mdc_pin_;
   esp32_emac_config.smi_gpio.mdio_num = this->mdio_pin_;
diff --git a/esphome/components/ethernet/ethernet_component.h b/esphome/components/ethernet/ethernet_component.h
index d9f05be9de0..c464e20b843 100644
--- a/esphome/components/ethernet/ethernet_component.h
+++ b/esphome/components/ethernet/ethernet_component.h
@@ -15,6 +15,8 @@
 #include "esp_mac.h"
 #include "esp_idf_version.h"
 
+extern "C" eth_esp32_emac_config_t eth_esp32_emac_default_config(void);
+
 namespace esphome::ethernet {
 
 #ifdef USE_ETHERNET_IP_STATE_LISTENERS
diff --git a/esphome/components/ethernet/ethernet_helpers.c b/esphome/components/ethernet/ethernet_helpers.c
new file mode 100644
index 00000000000..96faccad24c
--- /dev/null
+++ b/esphome/components/ethernet/ethernet_helpers.c
@@ -0,0 +1,8 @@
+#include "esp_eth_mac_esp.h"
+
+// ETH_ESP32_EMAC_DEFAULT_CONFIG() uses out-of-order designated initializers
+// which are valid in C but not in C++. This wrapper allows C++ code to get
+// the default config without replicating the macro's contents.
+eth_esp32_emac_config_t eth_esp32_emac_default_config(void) {
+  return (eth_esp32_emac_config_t) ETH_ESP32_EMAC_DEFAULT_CONFIG();
+}
diff --git a/esphome/components/logger/logger_rp2040.cpp b/esphome/components/logger/logger_rp2040.cpp
index f76b823a8f7..b7225c2a258 100644
--- a/esphome/components/logger/logger_rp2040.cpp
+++ b/esphome/components/logger/logger_rp2040.cpp
@@ -1,6 +1,9 @@
 #ifdef USE_RP2040
 #include "logger.h"
+#include "esphome/core/defines.h"
+#ifdef USE_RP2040_CRASH_HANDLER
 #include "esphome/components/rp2040/crash_handler.h"
+#endif
 #include "esphome/core/log.h"
 
 namespace esphome::logger {
@@ -26,7 +29,9 @@ void Logger::pre_setup() {
   }
   global_logger = this;
   ESP_LOGI(TAG, "Log initialized");
+#ifdef USE_RP2040_CRASH_HANDLER
   rp2040::crash_handler_log();
+#endif
 }
 
 void HOT Logger::write_msg_(const char *msg, uint16_t len) {
diff --git a/esphome/components/rp2040/__init__.py b/esphome/components/rp2040/__init__.py
index 05ea520a1ed..446e9d41828 100644
--- a/esphome/components/rp2040/__init__.py
+++ b/esphome/components/rp2040/__init__.py
@@ -217,6 +217,7 @@ async def to_code(config):
     )
 
     cg.add_define("USE_RP2040_WATCHDOG_TIMEOUT", config[CONF_WATCHDOG_TIMEOUT])
+    cg.add_define("USE_RP2040_CRASH_HANDLER")
 
 
 def add_pio_file(component: str, key: str, data: str):
diff --git a/esphome/components/rp2040/core.cpp b/esphome/components/rp2040/core.cpp
index 5e5a96c78b1..7079cbca155 100644
--- a/esphome/components/rp2040/core.cpp
+++ b/esphome/components/rp2040/core.cpp
@@ -1,8 +1,10 @@
 #ifdef USE_RP2040
 
 #include "core.h"
-#include "crash_handler.h"
 #include "esphome/core/defines.h"
+#ifdef USE_RP2040_CRASH_HANDLER
+#include "crash_handler.h"
+#endif
 #include "esphome/core/hal.h"
 #include "esphome/core/helpers.h"
 
@@ -25,7 +27,9 @@ void arch_restart() {
 }
 
 void arch_init() {
+#ifdef USE_RP2040_CRASH_HANDLER
   rp2040::crash_handler_read_and_clear();
+#endif
 #if USE_RP2040_WATCHDOG_TIMEOUT > 0
   watchdog_enable(USE_RP2040_WATCHDOG_TIMEOUT, false);
 #endif
diff --git a/esphome/components/rp2040/crash_handler.cpp b/esphome/components/rp2040/crash_handler.cpp
index 6ab46da4449..1f579c2d18e 100644
--- a/esphome/components/rp2040/crash_handler.cpp
+++ b/esphome/components/rp2040/crash_handler.cpp
@@ -1,5 +1,8 @@
 #ifdef USE_RP2040
 
+#include "esphome/core/defines.h"
+#ifdef USE_RP2040_CRASH_HANDLER
+
 #include "crash_handler.h"
 #include "esphome/core/log.h"
 
@@ -13,13 +16,19 @@
 static constexpr uint32_t EF_LR = 5;
 static constexpr uint32_t EF_PC = 6;
 
-static constexpr uint32_t CRASH_MAGIC = 0xDEADBEEF;
+// Version encoded in the magic value: upper 16 bits are sentinel (0xDEAD),
+// lower 16 bits are the version number. This avoids using a separate scratch
+// register for versioning (we only have 8 total). Future firmware reads the
+// sentinel to confirm it's crash data, then the version to know the layout.
+static constexpr uint32_t CRASH_MAGIC_SENTINEL = 0xDEAD0000;
+static constexpr uint32_t CRASH_DATA_VERSION = 1;
+static constexpr uint32_t CRASH_MAGIC_V1 = CRASH_MAGIC_SENTINEL | CRASH_DATA_VERSION;
 
 // We only have 8 scratch registers (32 bytes) that survive watchdog reboot.
 // Use them for the most important data, then scan the stack for code addresses.
 //
 // Scratch register layout:
-// [0] = magic (CRASH_MAGIC)
+// [0] = versioned magic (upper 16 bits = 0xDEAD sentinel, lower 16 bits = version)
 // [1] = PC (program counter at fault)
 // [2] = LR (link register from exception frame)
 // [3] = SP (stack pointer at fault)
@@ -57,9 +66,12 @@ static struct {
   uint8_t backtrace_count;
 } __attribute__((section(".noinit"))) s_crash_data;
 
+bool crash_handler_has_data() { return s_crash_data.valid; }
+
 void crash_handler_read_and_clear() {
   s_crash_data.valid = false;
-  if (watchdog_hw->scratch[0] == CRASH_MAGIC) {
+  uint32_t magic = watchdog_hw->scratch[0];
+  if ((magic & 0xFFFF0000) == CRASH_MAGIC_SENTINEL && (magic & 0xFFFF) == CRASH_DATA_VERSION) {
     s_crash_data.valid = true;
     s_crash_data.pc = watchdog_hw->scratch[1];
     s_crash_data.lr = watchdog_hw->scratch[2];
@@ -135,7 +147,7 @@ static void __attribute__((used, noreturn)) hard_fault_handler_c(uint32_t *frame
   // by a stacking error or corrupted SP, frame may be invalid. Write a minimal
   // crash marker so we at least know a crash occurred.
   if (!is_valid_sram_ptr(frame)) {
-    watchdog_hw->scratch[0] = CRASH_MAGIC;
+    watchdog_hw->scratch[0] = CRASH_MAGIC_V1;
     watchdog_hw->scratch[1] = 0;                                   // PC unknown
     watchdog_hw->scratch[2] = 0;                                   // LR unknown
     watchdog_hw->scratch[3] = reinterpret_cast<uintptr_t>(frame);  // Record the bad SP for diagnosis
@@ -157,7 +169,7 @@ static void __attribute__((used, noreturn)) hard_fault_handler_c(uint32_t *frame
   uint32_t pre_fault_sp = reinterpret_cast<uintptr_t>(post_frame);
 
   // Write key registers
-  watchdog_hw->scratch[0] = CRASH_MAGIC;
+  watchdog_hw->scratch[0] = CRASH_MAGIC_V1;
   watchdog_hw->scratch[1] = frame[EF_PC];
   watchdog_hw->scratch[2] = frame[EF_LR];
   watchdog_hw->scratch[3] = pre_fault_sp;
@@ -224,4 +236,5 @@ extern "C" void __attribute__((naked, used)) isr_hardfault() {
                  : "i"(hard_fault_handler_c));
 }
 
+#endif  // USE_RP2040_CRASH_HANDLER
 #endif  // USE_RP2040
diff --git a/esphome/components/rp2040/crash_handler.h b/esphome/components/rp2040/crash_handler.h
index f10db47c234..78e8ede08c8 100644
--- a/esphome/components/rp2040/crash_handler.h
+++ b/esphome/components/rp2040/crash_handler.h
@@ -2,7 +2,9 @@
 
 #ifdef USE_RP2040
 
-#include <cstdint>
+#include "esphome/core/defines.h"
+
+#ifdef USE_RP2040_CRASH_HANDLER
 
 namespace esphome::rp2040 {
 
@@ -12,6 +14,10 @@ void crash_handler_read_and_clear();
 /// Log crash data if a crash was detected on previous boot.
 void crash_handler_log();
 
+/// Returns true if crash data was found this boot.
+bool crash_handler_has_data();
+
 }  // namespace esphome::rp2040
 
+#endif  // USE_RP2040_CRASH_HANDLER
 #endif  // USE_RP2040
diff --git a/esphome/core/defines.h b/esphome/core/defines.h
index 014ffea025a..b53094046b3 100644
--- a/esphome/core/defines.h
+++ b/esphome/core/defines.h
@@ -339,6 +339,7 @@
 #ifdef USE_RP2040
 #define USE_ARDUINO_VERSION_CODE VERSION_CODE(3, 3, 0)
 #define USE_LOOP_PRIORITY
+#define USE_RP2040_CRASH_HANDLER
 #define USE_HTTP_REQUEST_RESPONSE
 #define USE_I2C
 #define USE_LOGGER_USB_CDC
diff --git a/esphome/idf_component.yml b/esphome/idf_component.yml
index acd7f7a4798..f7fd3e67bc3 100644
--- a/esphome/idf_component.yml
+++ b/esphome/idf_component.yml
@@ -20,7 +20,7 @@ dependencies:
     rules:
       - if: "target in [esp32h2, esp32p4]"
   espressif/esp_hosted:
-    version: 2.12.0
+    version: 2.12.1
     rules:
       - if: "target in [esp32h2, esp32p4]"
   zorxx/multipart-parser:
diff --git a/tests/components/ethernet/test.esp32-p4-idf.yaml b/tests/components/ethernet/test.esp32-p4-idf.yaml
new file mode 100644
index 00000000000..e52329d7ea2
--- /dev/null
+++ b/tests/components/ethernet/test.esp32-p4-idf.yaml
@@ -0,0 +1 @@
+<<: !include common-ip101.yaml