diff --git a/CODEOWNERS b/CODEOWNERS
index b453cf4538..80f243e82e 100644
--- a/CODEOWNERS
+++ b/CODEOWNERS
@@ -191,6 +191,7 @@ esphome/components/espnow/* @jesserockz
 esphome/components/espnow/packet_transport/* @EasilyBoredEngineer
 esphome/components/ethernet_info/* @gtjadsonsantos
 esphome/components/event/* @nohat
+esphome/components/exponential_moving_average/* @clydebarrow
 esphome/components/exposure_notifications/* @OttoWinter
 esphome/components/ezo/* @ssieb
 esphome/components/ezo_pmp/* @carlos-sarmiento
diff --git a/esphome/components/exponential_moving_average/__init__.py b/esphome/components/exponential_moving_average/__init__.py
new file mode 100644
index 0000000000..c58ce8a01e
--- /dev/null
+++ b/esphome/components/exponential_moving_average/__init__.py
@@ -0,0 +1 @@
+CODEOWNERS = ["@clydebarrow"]
diff --git a/esphome/components/exponential_moving_average/exponential_moving_average_sensor.cpp b/esphome/components/exponential_moving_average/exponential_moving_average_sensor.cpp
new file mode 100644
index 0000000000..243e2cf31e
--- /dev/null
+++ b/esphome/components/exponential_moving_average/exponential_moving_average_sensor.cpp
@@ -0,0 +1,116 @@
+#include "exponential_moving_average_sensor.h"
+#include "esphome/core/application.h"
+#include "esphome/core/log.h"
+
+#include <cmath>
+
+namespace esphome::exponential_moving_average {
+
+static const char *const TAG = "exponential_moving_average";
+
+const LogString *time_weighting_to_string(TimeWeighting weighting) {
+  switch (weighting) {
+    case TIME_WEIGHTING_PREVIOUS:
+      return LOG_STR("previous");
+    case TIME_WEIGHTING_LINEAR:
+      return LOG_STR("linear");
+    default:
+      return LOG_STR("new");
+  }
+}
+
+ScaledDuration scale_duration(uint32_t ms) {
+  if (ms < 1000)
+    return {static_cast<float>(ms), LOG_STR("ms"), 0};
+  if (ms < 60 * 1000)
+    return {ms / 1000.0f, LOG_STR("s"), 1};
+  if (ms < 60 * 60 * 1000)
+    return {ms / (60 * 1000.0f), LOG_STR("min"), 1};
+  return {ms / (60 * 60 * 1000.0f), LOG_STR("h"), 1};
+}
+
+void ExponentialMovingAverageSensor::setup() {
+  if (this->restore_) {
+    this->pref_ = this->make_entity_preference<float>();
+    float restored;
+    if (this->pref_.load(&restored) && std::isfinite(restored)) {
+      this->accumulator_ = restored;
+      this->publish_state(restored);
+    }
+  }
+  const uint32_t now = App.get_loop_component_start_time();
+  this->last_update_ = now;
+  this->source_->add_on_state_callback(
+      [this](float value) { this->process_(value, App.get_loop_component_start_time()); });
+  // The source may have published during its own setup(), before the callback was added.
+  if (this->source_->has_state())
+    this->process_(this->source_->state, now);
+}
+
+void ExponentialMovingAverageSensor::dump_config() {
+  LOG_SENSOR("", "Exponential Moving Average Sensor", this);
+  if (this->time_constant_ms_ != 0) {
+    const ScaledDuration time_constant = scale_duration(this->time_constant_ms_);
+    ESP_LOGCONFIG(TAG,
+                  "  Time Constant: %.*f %s\n"
+                  "  Time Weighting: %s",
+                  time_constant.decimals, time_constant.value, LOG_STR_ARG(time_constant.unit),
+                  LOG_STR_ARG(time_weighting_to_string(this->time_weighting_)));
+  } else {
+    ESP_LOGCONFIG(TAG, "  Alpha: %.3f", this->alpha_);
+  }
+  ESP_LOGCONFIG(TAG, "  Restore: %s", YESNO(this->restore_));
+}
+
+void ExponentialMovingAverageSensor::reset() { this->publish_and_save_(NAN); }
+
+void ExponentialMovingAverageSensor::process_(float value, uint32_t now) {
+  if (std::isnan(value))
+    return;
+  // After a reboot the downtime is unknown, so the first interval is measured from setup().
+  const uint32_t dt = now - this->last_update_;
+  this->last_update_ = now;
+  const float previous = this->previous_value_;
+  this->previous_value_ = value;
+  if (std::isnan(this->accumulator_)) {
+    this->publish_and_save_(value);
+    return;
+  }
+  if (this->time_constant_ms_ == 0) {
+    this->publish_and_save_(this->alpha_ * value + (1.0f - this->alpha_) * this->accumulator_);
+    return;
+  }
+  // Computed in double with expm1(): when the interval is short compared to the time constant, the weights are
+  // tiny and float rounding of exp() would swamp them.
+  const double x = static_cast<double>(dt) / this->time_constant_ms_;
+  // The share of the old average replaced during this interval.
+  const double gain = -std::expm1(-x);
+  const double average = this->accumulator_;
+  // After a reboot there is no previous reading, so only the new value can be used.
+  const TimeWeighting weighting = std::isnan(previous) ? TIME_WEIGHTING_NEW : this->time_weighting_;
+  double result;
+  switch (weighting) {
+    case TIME_WEIGHTING_PREVIOUS:
+      result = average + gain * (previous - average);
+      break;
+    case TIME_WEIGHTING_LINEAR: {
+      // Exact result for a value moving in a straight line from the previous reading to the new one.
+      const double weight_new = x > 0.0 ? (x + std::expm1(-x)) / x : 0.0;
+      result = average + (gain - weight_new) * (previous - average) + weight_new * (value - average);
+      break;
+    }
+    default:
+      result = average + gain * (value - average);
+      break;
+  }
+  this->publish_and_save_(static_cast<float>(result));
+}
+
+void ExponentialMovingAverageSensor::publish_and_save_(float value) {
+  this->accumulator_ = value;
+  this->publish_state(value);
+  if (this->restore_)
+    this->pref_.save(&value);
+}
+
+}  // namespace esphome::exponential_moving_average
diff --git a/esphome/components/exponential_moving_average/exponential_moving_average_sensor.h b/esphome/components/exponential_moving_average/exponential_moving_average_sensor.h
new file mode 100644
index 0000000000..98bd88553b
--- /dev/null
+++ b/esphome/components/exponential_moving_average/exponential_moving_average_sensor.h
@@ -0,0 +1,61 @@
+#pragma once
+
+#include <cmath>
+#include <cstdint>
+
+#include "esphome/core/component.h"
+#include "esphome/core/log.h"
+#include "esphome/core/preferences.h"
+#include "esphome/components/sensor/sensor.h"
+
+namespace esphome::exponential_moving_average {
+
+/// Which value is assumed to apply during the time between two readings, when a time constant is used.
+enum TimeWeighting : uint8_t {
+  TIME_WEIGHTING_NEW = 0,
+  TIME_WEIGHTING_PREVIOUS,
+  TIME_WEIGHTING_LINEAR,
+};
+
+const LogString *time_weighting_to_string(TimeWeighting weighting);
+
+/// A duration in the largest of ms, s, min or h that keeps the value at 1 or more.
+struct ScaledDuration {
+  float value;
+  const LogString *unit;
+  uint8_t decimals;
+};
+
+ScaledDuration scale_duration(uint32_t ms);
+
+class ExponentialMovingAverageSensor : public sensor::Sensor, public Component {
+ public:
+  explicit ExponentialMovingAverageSensor(sensor::Sensor *source) : source_(source) {}
+
+  void setup() override;
+  void dump_config() override;
+
+  void set_alpha(float alpha) { this->alpha_ = alpha; }
+  /// When non-zero, each sample is weighted by the time since the previous one instead of by a fixed alpha.
+  void set_time_constant(uint32_t time_constant_ms) { this->time_constant_ms_ = time_constant_ms; }
+  void set_time_weighting(TimeWeighting weighting) { this->time_weighting_ = weighting; }
+  void set_restore(bool restore) { this->restore_ = restore; }
+  /// Clear the average; the next sample starts it again.
+  void reset();
+
+ protected:
+  void process_(float value, uint32_t now);
+  void publish_and_save_(float value);
+
+  sensor::Sensor *source_;
+  ESPPreferenceObject pref_;
+  float alpha_{0.1f};
+  float accumulator_{NAN};
+  float previous_value_{NAN};
+  uint32_t time_constant_ms_{0};
+  uint32_t last_update_{0};
+  TimeWeighting time_weighting_{TIME_WEIGHTING_NEW};
+  bool restore_{true};
+};
+
+}  // namespace esphome::exponential_moving_average
diff --git a/esphome/components/exponential_moving_average/sensor.py b/esphome/components/exponential_moving_average/sensor.py
new file mode 100644
index 0000000000..20c8135636
--- /dev/null
+++ b/esphome/components/exponential_moving_average/sensor.py
@@ -0,0 +1,103 @@
+from esphome import automation
+import esphome.codegen as cg
+from esphome.components import sensor
+import esphome.config_validation as cv
+from esphome.const import (
+    CONF_ACCURACY_DECIMALS,
+    CONF_ALPHA,
+    CONF_DEVICE_CLASS,
+    CONF_ICON,
+    CONF_ID,
+    CONF_RESTORE,
+    CONF_SENSOR,
+    CONF_STATE_CLASS,
+    CONF_TIME_CONSTANT,
+    CONF_UNIT_OF_MEASUREMENT,
+)
+from esphome.core.entity_helpers import inherit_property_from
+from esphome.types import ConfigType
+
+exponential_moving_average_ns = cg.esphome_ns.namespace("exponential_moving_average")
+ExponentialMovingAverageSensor = exponential_moving_average_ns.class_(
+    "ExponentialMovingAverageSensor", sensor.Sensor, cg.Component
+)
+
+TimeWeighting = exponential_moving_average_ns.enum("TimeWeighting")
+TIME_WEIGHTINGS: dict[str, cg.MockObj] = {
+    "new": TimeWeighting.TIME_WEIGHTING_NEW,
+    "previous": TimeWeighting.TIME_WEIGHTING_PREVIOUS,
+    "linear": TimeWeighting.TIME_WEIGHTING_LINEAR,
+}
+
+CONF_TIME_WEIGHTING: str = "time_weighting"
+
+DEFAULT_ALPHA: float = 0.1
+
+
+def inherit_accuracy_decimals(decimals: int, config: ConfigType) -> int:
+    # An average carries more precision than the individual readings.
+    return decimals + 1
+
+
+def validate_time_weighting(config: ConfigType) -> ConfigType:
+    if CONF_TIME_WEIGHTING in config and CONF_TIME_CONSTANT not in config:
+        raise cv.Invalid(
+            f"'{CONF_TIME_WEIGHTING}' can only be used with '{CONF_TIME_CONSTANT}'",
+            path=[CONF_TIME_WEIGHTING],
+        )
+    return config
+
+
+CONFIG_SCHEMA = cv.All(
+    sensor.sensor_schema(ExponentialMovingAverageSensor)
+    .extend(
+        {
+            cv.Required(CONF_SENSOR): cv.use_id(sensor.Sensor),
+            cv.Optional(CONF_ALPHA): cv.All(
+                cv.float_, cv.Range(min=0, min_included=False, max=1)
+            ),
+            cv.Optional(CONF_TIME_CONSTANT): cv.positive_time_period_milliseconds,
+            cv.Optional(CONF_TIME_WEIGHTING): cv.enum(TIME_WEIGHTINGS, lower=True),
+            cv.Optional(CONF_RESTORE, default=True): cv.boolean,
+        }
+    )
+    .extend(cv.COMPONENT_SCHEMA),
+    cv.has_at_most_one_key(CONF_ALPHA, CONF_TIME_CONSTANT),
+    validate_time_weighting,
+)
+
+FINAL_VALIDATE_SCHEMA = cv.All(
+    inherit_property_from(CONF_ICON, CONF_SENSOR),
+    inherit_property_from(CONF_UNIT_OF_MEASUREMENT, CONF_SENSOR),
+    inherit_property_from(
+        CONF_ACCURACY_DECIMALS, CONF_SENSOR, transform=inherit_accuracy_decimals
+    ),
+    inherit_property_from(CONF_DEVICE_CLASS, CONF_SENSOR),
+    inherit_property_from(CONF_STATE_CLASS, CONF_SENSOR),
+)
+
+
+async def to_code(config: ConfigType) -> None:
+    source = await cg.get_variable(config[CONF_SENSOR])
+    var = cg.new_Pvariable(config[CONF_ID], source)
+    await cg.register_component(var, config)
+    await sensor.register_sensor(var, config)
+
+    if (time_constant := config.get(CONF_TIME_CONSTANT)) is not None:
+        cg.add(var.set_time_constant(time_constant))
+        if (weighting := config.get(CONF_TIME_WEIGHTING)) is not None:
+            cg.add(var.set_time_weighting(weighting))
+    else:
+        cg.add(var.set_alpha(config.get(CONF_ALPHA, DEFAULT_ALPHA)))
+    cg.add(var.set_restore(config[CONF_RESTORE]))
+
+
+automation.register_apply_action(
+    "sensor.exponential_moving_average.reset",
+    automation.maybe_simple_id(
+        {
+            cv.Required(CONF_ID): cv.use_id(ExponentialMovingAverageSensor),
+        }
+    ),
+    automation.ApplyCall("reset()"),
+)
diff --git a/tests/component_tests/exponential_moving_average/__init__.py b/tests/component_tests/exponential_moving_average/__init__.py
new file mode 100644
index 0000000000..e69de29bb2
diff --git a/tests/component_tests/exponential_moving_average/config/exponential_moving_average_test.yaml b/tests/component_tests/exponential_moving_average/config/exponential_moving_average_test.yaml
new file mode 100644
index 0000000000..88735777d2
--- /dev/null
+++ b/tests/component_tests/exponential_moving_average/config/exponential_moving_average_test.yaml
@@ -0,0 +1,40 @@
+esphome:
+  name: test
+  on_boot:
+    then:
+      - sensor.exponential_moving_average.reset: ema_default
+
+esp32:
+  board: esp32dev
+
+sensor:
+  - platform: template
+    id: source_sensor
+    unit_of_measurement: "°C"
+    accuracy_decimals: 1
+    device_class: temperature
+    state_class: measurement
+    lambda: return 1.0;
+  - platform: exponential_moving_average
+    id: ema_default
+    name: EMA Default
+    sensor: source_sensor
+  - platform: exponential_moving_average
+    id: ema_alpha
+    name: EMA Alpha
+    sensor: source_sensor
+    alpha: 0.25
+    unit_of_measurement: "K"
+    accuracy_decimals: 3
+  - platform: exponential_moving_average
+    id: ema_time_constant
+    name: EMA Time Constant
+    sensor: source_sensor
+    time_constant: 5min
+    restore: false
+  - platform: exponential_moving_average
+    id: ema_linear
+    name: EMA Linear
+    sensor: source_sensor
+    time_constant: 30s
+    time_weighting: linear
diff --git a/tests/component_tests/exponential_moving_average/test_exponential_moving_average.py b/tests/component_tests/exponential_moving_average/test_exponential_moving_average.py
new file mode 100644
index 0000000000..fea5dddb00
--- /dev/null
+++ b/tests/component_tests/exponential_moving_average/test_exponential_moving_average.py
@@ -0,0 +1,166 @@
+"""Tests for the exponential_moving_average sensor."""
+
+from collections.abc import Callable
+from pathlib import Path
+
+import pytest
+
+from esphome import config_validation as cv
+from esphome.components.exponential_moving_average.sensor import CONFIG_SCHEMA
+
+
+def test_default_alpha_and_restore(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    """Without alpha or time_constant, alpha defaults to 0.1 and restore is on."""
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert (
+        "new(ema_default) exponential_moving_average::ExponentialMovingAverageSensor(source_sensor);"
+        in main_cpp
+    )
+    assert "ema_default->set_alpha(0.1f);" in main_cpp
+    assert "ema_default->set_restore(true);" in main_cpp
+
+
+def test_alpha(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert "ema_alpha->set_alpha(0.25f);" in main_cpp
+    assert "ema_alpha->set_time_constant" not in main_cpp
+
+
+def test_time_constant_replaces_alpha(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert "ema_time_constant->set_time_constant(300000);" in main_cpp
+    assert "ema_time_constant->set_alpha" not in main_cpp
+    assert "ema_time_constant->set_restore(false);" in main_cpp
+    assert "ema_time_constant->set_time_weighting" not in main_cpp
+
+
+def test_time_weighting(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert "ema_linear->set_time_constant(30000);" in main_cpp
+    assert (
+        "ema_linear->set_time_weighting(exponential_moving_average::TIME_WEIGHTING_LINEAR);"
+        in main_cpp
+    )
+
+
+def test_properties_inherited_from_source(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    """Unset properties come from the source sensor, with one extra decimal; set ones are kept."""
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert "ema_default->set_accuracy_decimals(2);" in main_cpp
+    assert "ema_alpha->set_accuracy_decimals(3);" in main_cpp
+    default_line = next(
+        line for line in main_cpp.splitlines() if '"EMA Default"' in line
+    )
+    alpha_line = next(line for line in main_cpp.splitlines() if '"EMA Alpha"' in line)
+    assert "°C" in default_line
+    assert "temperature" in default_line
+    assert "K" in alpha_line
+
+
+def test_reset_action(
+    generate_main: Callable[[str | Path], str],
+    component_config_path: Callable[[str], Path],
+) -> None:
+    main_cpp = generate_main(
+        component_config_path("exponential_moving_average_test.yaml")
+    )
+
+    assert "::ema_default->reset();" in main_cpp
+
+
+def test_alpha_and_time_constant_are_exclusive() -> None:
+    with pytest.raises(cv.Invalid, match="Cannot specify more than one of"):
+        CONFIG_SCHEMA(
+            {
+                "id": "ema",
+                "name": "EMA",
+                "sensor": "source",
+                "alpha": 0.5,
+                "time_constant": "1min",
+            }
+        )
+
+
+@pytest.mark.parametrize("alpha", [0, -0.1, 1.5])
+def test_alpha_out_of_range(alpha: float) -> None:
+    with pytest.raises(cv.Invalid):
+        CONFIG_SCHEMA({"id": "ema", "name": "EMA", "sensor": "source", "alpha": alpha})
+
+
+@pytest.mark.parametrize("alpha", [0.01, 1])
+def test_alpha_in_range(alpha: float) -> None:
+    config = CONFIG_SCHEMA(
+        {"id": "ema", "name": "EMA", "sensor": "source", "alpha": alpha}
+    )
+
+    assert config["alpha"] == alpha
+
+
+def test_time_weighting_requires_time_constant() -> None:
+    with pytest.raises(cv.Invalid, match="can only be used with 'time_constant'"):
+        CONFIG_SCHEMA(
+            {
+                "id": "ema",
+                "name": "EMA",
+                "sensor": "source",
+                "time_weighting": "previous",
+            }
+        )
+
+
+@pytest.mark.parametrize("weighting", ["new", "previous", "linear", "LINEAR"])
+def test_time_weighting_values(weighting: str) -> None:
+    config = CONFIG_SCHEMA(
+        {
+            "id": "ema",
+            "name": "EMA",
+            "sensor": "source",
+            "time_constant": "1min",
+            "time_weighting": weighting,
+        }
+    )
+
+    assert config["time_weighting"] == weighting.lower()
+
+
+def test_time_weighting_rejects_unknown_value() -> None:
+    with pytest.raises(cv.Invalid):
+        CONFIG_SCHEMA(
+            {
+                "id": "ema",
+                "name": "EMA",
+                "sensor": "source",
+                "time_constant": "1min",
+                "time_weighting": "trapezoid",
+            }
+        )
diff --git a/tests/components/exponential_moving_average/common.h b/tests/components/exponential_moving_average/common.h
new file mode 100644
index 0000000000..599c36bb0d
--- /dev/null
+++ b/tests/components/exponential_moving_average/common.h
@@ -0,0 +1,52 @@
+#pragma once
+
+#include <gtest/gtest.h>
+
+#include <cstdlib>
+#include <filesystem>
+#include <optional>
+#include <string>
+
+#include "esphome/components/exponential_moving_average/exponential_moving_average_sensor.h"
+#include "esphome/core/preferences.h"
+#ifdef USE_HOST
+#include "esphome/components/host/preferences.h"
+#endif
+
+namespace esphome::exponential_moving_average::testing {
+
+class TestableExponentialMovingAverageSensor : public ExponentialMovingAverageSensor {
+ public:
+  using ExponentialMovingAverageSensor::ExponentialMovingAverageSensor;
+  using ExponentialMovingAverageSensor::process_;
+};
+
+// Unnamed sensors share one preference key, so a second instance created after
+// the first one behaves like the same sensor after a reboot.
+class ExponentialMovingAverageTest : public ::testing::Test {
+ protected:
+  void SetUp() override {
+    if (const char *prefdir = getenv("ESPHOME_PREFDIR"); prefdir != nullptr)
+      this->saved_prefdir_ = prefdir;
+    // Keep preferences away from the user's home directory.
+    setenv("ESPHOME_PREFDIR", std::filesystem::temp_directory_path().c_str(), 1);
+#ifdef USE_HOST
+    host::setup_preferences();
+#endif
+    global_preferences->reset();
+  }
+
+  void TearDown() override {
+    global_preferences->reset();
+    if (this->saved_prefdir_.has_value()) {
+      setenv("ESPHOME_PREFDIR", this->saved_prefdir_->c_str(), 1);
+    } else {
+      unsetenv("ESPHOME_PREFDIR");
+    }
+  }
+
+  std::optional<std::string> saved_prefdir_;
+  sensor::Sensor source_;
+};
+
+}  // namespace esphome::exponential_moving_average::testing
diff --git a/tests/components/exponential_moving_average/common.yaml b/tests/components/exponential_moving_average/common.yaml
new file mode 100644
index 0000000000..c3cf9da5f9
--- /dev/null
+++ b/tests/components/exponential_moving_average/common.yaml
@@ -0,0 +1,25 @@
+sensor:
+  - platform: template
+    id: ema_source
+    name: EMA Source
+    unit_of_measurement: "°C"
+    accuracy_decimals: 1
+    lambda: return 21.5;
+    update_interval: 10s
+  - platform: exponential_moving_average
+    id: ema_alpha
+    name: EMA Alpha
+    sensor: ema_source
+    alpha: 0.2
+  - platform: exponential_moving_average
+    name: EMA Time Constant
+    sensor: ema_source
+    time_constant: 5min
+    time_weighting: previous
+    restore: false
+
+button:
+  - platform: template
+    name: EMA Reset
+    on_press:
+      - sensor.exponential_moving_average.reset: ema_alpha
diff --git a/tests/components/exponential_moving_average/sensor/test_exponential_moving_average.cpp b/tests/components/exponential_moving_average/sensor/test_exponential_moving_average.cpp
new file mode 100644
index 0000000000..d601374990
--- /dev/null
+++ b/tests/components/exponential_moving_average/sensor/test_exponential_moving_average.cpp
@@ -0,0 +1,356 @@
+#include <cmath>
+
+#include "../common.h"
+
+namespace esphome::exponential_moving_average::testing {
+
+TEST_F(ExponentialMovingAverageTest, FirstValueStartsTheAverage) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.setup();
+  EXPECT_FALSE(ema.has_state());
+
+  ema.process_(10.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 10.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, AlphaWeightsEachValue) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_alpha(0.5f);
+  ema.setup();
+
+  ema.process_(10.0f, 0);
+  ema.process_(20.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 15.0f);
+  ema.process_(20.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 17.5f);
+}
+
+TEST_F(ExponentialMovingAverageTest, NanValuesAreIgnored) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_alpha(0.5f);
+  ema.setup();
+
+  ema.process_(10.0f, 0);
+  ema.process_(NAN, 0);
+  EXPECT_FLOAT_EQ(ema.state, 10.0f);
+  ema.process_(20.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 15.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, FollowsSourceSensor) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_alpha(0.25f);
+  ema.setup();
+
+  this->source_.publish_state(8.0f);
+  this->source_.publish_state(0.0f);
+  EXPECT_FLOAT_EQ(ema.state, 6.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, TimeConstantWeightsByElapsedTime) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.setup();
+
+  ema.process_(0.0f, 0);
+  ema.process_(1.0f, 1000);
+  EXPECT_NEAR(ema.state, 1.0f - std::exp(-1.0f), 1e-5f);
+}
+
+TEST_F(ExponentialMovingAverageTest, TimeConstantResultDoesNotDependOnSampleRate) {
+  TestableExponentialMovingAverageSensor fast(&this->source_);
+  fast.set_time_constant(1000);
+  fast.set_restore(false);
+  fast.setup();
+  fast.process_(0.0f, 0);
+  for (uint32_t t = 100; t <= 1000; t += 100)
+    fast.process_(1.0f, t);
+
+  TestableExponentialMovingAverageSensor slow(&this->source_);
+  slow.set_time_constant(1000);
+  slow.set_restore(false);
+  slow.setup();
+  slow.process_(0.0f, 0);
+  slow.process_(1.0f, 1000);
+
+  EXPECT_NEAR(fast.state, slow.state, 1e-5f);
+}
+
+TEST_F(ExponentialMovingAverageTest, TimeConstantIgnoresRepeatAtSameTime) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.setup();
+
+  ema.process_(5.0f, 0);
+  ema.process_(100.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 5.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, TimeConstantHandlesTimerWraparound) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.setup();
+
+  ema.process_(0.0f, UINT32_MAX - 499);
+  ema.process_(1.0f, 500);
+  EXPECT_NEAR(ema.state, 1.0f - std::exp(-1.0f), 1e-5f);
+}
+
+TEST_F(ExponentialMovingAverageTest, ResetStartsANewAverage) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_alpha(0.5f);
+  ema.setup();
+
+  ema.process_(10.0f, 0);
+  ema.reset();
+  EXPECT_TRUE(std::isnan(ema.state));
+  ema.process_(40.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 40.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, AverageIsRestoredAfterReboot) {
+  {
+    TestableExponentialMovingAverageSensor before(&this->source_);
+    before.set_alpha(0.5f);
+    before.setup();
+    before.process_(10.0f, 0);
+    before.process_(20.0f, 0);
+  }
+
+  TestableExponentialMovingAverageSensor after(&this->source_);
+  after.set_alpha(0.5f);
+  after.setup();
+  ASSERT_TRUE(after.has_state());
+  EXPECT_FLOAT_EQ(after.state, 15.0f);
+
+  // Continues from the restored value rather than starting again.
+  after.process_(25.0f, 0);
+  EXPECT_FLOAT_EQ(after.state, 20.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, NothingRestoredWhenRestoreIsOff) {
+  {
+    TestableExponentialMovingAverageSensor before(&this->source_);
+    before.setup();
+    before.process_(10.0f, 0);
+  }
+
+  TestableExponentialMovingAverageSensor after(&this->source_);
+  after.set_restore(false);
+  after.setup();
+  EXPECT_FALSE(after.has_state());
+  after.process_(30.0f, 0);
+  EXPECT_FLOAT_EQ(after.state, 30.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, ResetClearsTheSavedAverage) {
+  {
+    TestableExponentialMovingAverageSensor before(&this->source_);
+    before.setup();
+    before.process_(10.0f, 0);
+    before.reset();
+  }
+
+  TestableExponentialMovingAverageSensor after(&this->source_);
+  after.setup();
+  EXPECT_FALSE(after.has_state());
+}
+
+TEST_F(ExponentialMovingAverageTest, PreviousWeightingCountsGapAtPreviousValue) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.set_time_weighting(TIME_WEIGHTING_PREVIOUS);
+  ema.setup();
+
+  // The value stayed at 20 for an hour before changing to 25.
+  ema.process_(20.0f, 0);
+  ema.process_(25.0f, 3600000);
+  EXPECT_FLOAT_EQ(ema.state, 20.0f);
+
+  // The 25 is counted over the following interval.
+  ema.process_(25.0f, 3601000);
+  EXPECT_NEAR(ema.state, 20.0f + 5.0f * (1.0f - std::exp(-1.0f)), 1e-4f);
+}
+
+TEST_F(ExponentialMovingAverageTest, NewWeightingCountsGapAtNewValue) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.setup();
+
+  ema.process_(20.0f, 0);
+  ema.process_(25.0f, 3600000);
+  EXPECT_FLOAT_EQ(ema.state, 25.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, LinearWeightingFollowsStraightLine) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.set_time_weighting(TIME_WEIGHTING_LINEAR);
+  ema.setup();
+
+  // An average of a value rising steadily from 0 to 1 over one time constant ends at exp(-1).
+  ema.process_(0.0f, 0);
+  ema.process_(1.0f, 1000);
+  EXPECT_NEAR(ema.state, std::exp(-1.0f), 1e-5f);
+}
+
+TEST_F(ExponentialMovingAverageTest, LinearWeightingMatchesManySmallSteps) {
+  TestableExponentialMovingAverageSensor coarse(&this->source_);
+  coarse.set_time_constant(1000);
+  coarse.set_time_weighting(TIME_WEIGHTING_LINEAR);
+  coarse.set_restore(false);
+  coarse.setup();
+  coarse.process_(0.0f, 0);
+  coarse.process_(10.0f, 2000);
+
+  TestableExponentialMovingAverageSensor fine(&this->source_);
+  fine.set_time_constant(1000);
+  fine.set_time_weighting(TIME_WEIGHTING_LINEAR);
+  fine.set_restore(false);
+  fine.setup();
+  fine.process_(0.0f, 0);
+  for (uint32_t t = 10; t <= 2000; t += 10)
+    fine.process_(t / 200.0f, t);
+
+  EXPECT_NEAR(coarse.state, fine.state, 1e-3f);
+}
+
+TEST_F(ExponentialMovingAverageTest, LinearWeightingIgnoresRepeatAtSameTime) {
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(1000);
+  ema.set_time_weighting(TIME_WEIGHTING_LINEAR);
+  ema.setup();
+
+  ema.process_(5.0f, 0);
+  ema.process_(100.0f, 0);
+  EXPECT_FLOAT_EQ(ema.state, 5.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, FirstValueAfterRebootUsesNewValue) {
+  {
+    TestableExponentialMovingAverageSensor before(&this->source_);
+    before.setup();
+    before.process_(10.0f, 0);
+  }
+
+  // No reading from before the reboot is known, so the new value is used for the first interval.
+  TestableExponentialMovingAverageSensor after(&this->source_);
+  after.set_time_constant(1000);
+  after.set_time_weighting(TIME_WEIGHTING_PREVIOUS);
+  after.setup();
+  after.process_(20.0f, 1000);
+  EXPECT_NEAR(after.state, 10.0f + 10.0f * (1.0f - std::exp(-1.0f)), 1e-4f);
+}
+
+TEST_F(ExponentialMovingAverageTest, StartsFromSourceThatAlreadyHasAValue) {
+  sensor::Sensor source;
+  source.publish_state(12.0f);
+
+  TestableExponentialMovingAverageSensor ema(&source);
+  ema.set_alpha(0.5f);
+  ema.set_restore(false);
+  ema.setup();
+  ASSERT_TRUE(ema.has_state());
+  EXPECT_FLOAT_EQ(ema.state, 12.0f);
+
+  // The value read at setup is only counted once.
+  source.publish_state(20.0f);
+  EXPECT_FLOAT_EQ(ema.state, 16.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, SourceValueAtSetupBlendsWithRestoredAverage) {
+  {
+    TestableExponentialMovingAverageSensor before(&this->source_);
+    before.setup();
+    before.process_(10.0f, 0);
+  }
+
+  sensor::Sensor source;
+  source.publish_state(20.0f);
+  TestableExponentialMovingAverageSensor after(&source);
+  after.set_alpha(0.5f);
+  after.setup();
+  EXPECT_FLOAT_EQ(after.state, 15.0f);
+}
+
+TEST_F(ExponentialMovingAverageTest, SourceNanAtSetupIsIgnored) {
+  sensor::Sensor source;
+  source.publish_state(NAN);
+
+  TestableExponentialMovingAverageSensor ema(&source);
+  ema.set_restore(false);
+  ema.setup();
+  EXPECT_FALSE(ema.has_state());
+}
+
+// Reference weights from the Taylor series, accurate for the small ratios used below.
+static double series_gain(double x) { return x - x * x / 2 + x * x * x / 6; }
+static double series_weight_new(double x) { return x / 2 - x * x / 6 + x * x * x / 24; }
+
+TEST_F(ExponentialMovingAverageTest, LinearWeightingAccurateWithLongTimeConstant) {
+  constexpr uint32_t time_constant = 43200000;  // 12 hours
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(time_constant);
+  ema.set_time_weighting(TIME_WEIGHTING_LINEAR);
+  ema.set_restore(false);
+  ema.setup();
+
+  const double x = 1000.0 / time_constant;
+  const double weight_new = series_weight_new(x);
+  const double weight_previous = series_gain(x) - weight_new;
+
+  ema.process_(0.0f, 0);
+  ema.process_(10.0f, 1000);
+  const double expected = weight_new * 10.0;
+  EXPECT_NEAR(ema.state, expected, expected * 1e-4);
+
+  ema.process_(20.0f, 2000);
+  const double expected2 = expected + weight_previous * (10.0 - expected) + weight_new * (20.0 - expected);
+  EXPECT_NEAR(ema.state, expected2, expected2 * 1e-4);
+}
+
+TEST_F(ExponentialMovingAverageTest, VeryShortIntervalStillMovesAverage) {
+  constexpr uint32_t time_constant = 4 * 24 * 3600000;  // 4 days, with a reading on every 16 ms loop
+  TestableExponentialMovingAverageSensor ema(&this->source_);
+  ema.set_time_constant(time_constant);
+  ema.set_restore(false);
+  ema.setup();
+
+  ema.process_(0.0f, 0);
+  ema.process_(1000.0f, 16);
+  const double expected = series_gain(16.0 / time_constant) * 1000.0;
+  EXPECT_NEAR(ema.state, expected, expected * 1e-4);
+}
+
+TEST(TimeWeightingTest, Names) {
+  EXPECT_STREQ(LOG_STR_ARG(time_weighting_to_string(TIME_WEIGHTING_NEW)), "new");
+  EXPECT_STREQ(LOG_STR_ARG(time_weighting_to_string(TIME_WEIGHTING_PREVIOUS)), "previous");
+  EXPECT_STREQ(LOG_STR_ARG(time_weighting_to_string(TIME_WEIGHTING_LINEAR)), "linear");
+}
+
+struct ScaleDurationCase {
+  uint32_t ms;
+  float value;
+  const char *unit;
+  uint8_t decimals;
+};
+
+class ScaleDurationTest : public ::testing::TestWithParam<ScaleDurationCase> {};
+
+TEST_P(ScaleDurationTest, PicksLargestUnitOfAtLeastOne) {
+  const ScaleDurationCase &c = GetParam();
+  const ScaledDuration scaled = scale_duration(c.ms);
+  EXPECT_FLOAT_EQ(scaled.value, c.value);
+  EXPECT_STREQ(LOG_STR_ARG(scaled.unit), c.unit);
+  EXPECT_EQ(scaled.decimals, c.decimals);
+}
+
+INSTANTIATE_TEST_SUITE_P(
+    Units, ScaleDurationTest,
+    ::testing::Values(ScaleDurationCase{1, 1.0f, "ms", 0}, ScaleDurationCase{999, 999.0f, "ms", 0},
+                      ScaleDurationCase{1000, 1.0f, "s", 1}, ScaleDurationCase{95000, 1.5833334f, "min", 1},
+                      ScaleDurationCase{59999, 59.999f, "s", 1}, ScaleDurationCase{60000, 1.0f, "min", 1},
+                      ScaleDurationCase{300000, 5.0f, "min", 1}, ScaleDurationCase{3599999, 59.999983f, "min", 1},
+                      ScaleDurationCase{3600000, 1.0f, "h", 1}, ScaleDurationCase{86400000, 24.0f, "h", 1}));
+
+}  // namespace esphome::exponential_moving_average::testing
diff --git a/tests/components/exponential_moving_average/test.esp32-idf.yaml b/tests/components/exponential_moving_average/test.esp32-idf.yaml
new file mode 100644
index 0000000000..2f4b6a0f57
--- /dev/null
+++ b/tests/components/exponential_moving_average/test.esp32-idf.yaml
@@ -0,0 +1,2 @@
+packages:
+  exponential_moving_average: !include common.yaml