diff --git a/script/test_build_components b/script/test_build_components
index 83ab947fc1..e1089fd0d6 100755
--- a/script/test_build_components
+++ b/script/test_build_components
@@ -3,25 +3,37 @@
 set -e
 
 help() {
-  echo "Usage: $0 [-e <config|compile|clean>] [-c <string>] [-t <string>]" 1>&2
+  echo "Usage: $0 [-e <config|compile|clean>] [-c <string>] [-t <string>] [-j <number>] [-p <string>] [-f]" 1>&2
   echo 1>&2
   echo "  - e - Parameter for esphome command. Default compile. Common alternative is config." 1>&2
   echo "  - c - Component folder name to test. Default *. E.g. '-c logger'." 1>&2
   echo "  - t - Target name to test. Put '-t list' to display all possibilities. E.g. '-t esp32-s2-idf-51'." 1>&2
+  echo "  - j - Number of parallel jobs. Default is number of CPU cores." 1>&2
+  echo "  - p - Platform filter. E.g. '-p esp32' to test only ESP32 platforms." 1>&2
+  echo "  - f - Fail fast. Exit on first failure." 1>&2
+  echo "  - b - Build cache directory. E.g. '-b /tmp/esphome_cache'." 1>&2
   exit 1
 }
 
 # Parse parameter:
-# - `e` - Parameter for `esphome` command. Default `compile`. Common alternative is `config`.
-# - `c` - Component folder name to test. Default `*`.
 esphome_command="compile"
 target_component="*"
-while getopts e:c:t: flag
+num_jobs=$(nproc 2>/dev/null || sysctl -n hw.ncpu 2>/dev/null || echo 4)
+platform_filter=""
+fail_fast=false
+build_cache_dir=""
+
+while getopts e:c:t:j:p:b:fh flag
 do
     case $flag in
         e) esphome_command=${OPTARG};;
         c) target_component=${OPTARG};;
         t) requested_target_platform=${OPTARG};;
+        j) num_jobs=${OPTARG};;
+        p) platform_filter=${OPTARG};;
+        f) fail_fast=true;;
+        b) build_cache_dir=${OPTARG};;
+        h) help;;
         \?) help;;
     esac
 done
@@ -29,16 +41,66 @@ done
 cd "$(dirname "$0")/.."
 
 if ! [ -d "./tests/test_build_components/build" ]; then
-  mkdir ./tests/test_build_components/build
+  mkdir -p ./tests/test_build_components/build
 fi
 
+# Export build cache directory if specified
+if [ -n "$build_cache_dir" ]; then
+  export PLATFORMIO_BUILD_CACHE_DIR="$build_cache_dir"
+  mkdir -p "$build_cache_dir"
+  echo "Using build cache directory: $build_cache_dir"
+fi
+
+# Track PIDs for parallel execution
+pids=()
+failed_builds=()
+build_count=0
+total_builds=0
+
+# Function to wait for jobs and handle failures
+wait_for_jobs() {
+  local max_jobs=$1
+  while [ ${#pids[@]} -ge $max_jobs ]; do
+    for i in "${!pids[@]}"; do
+      if ! kill -0 "${pids[$i]}" 2>/dev/null; then
+        wait "${pids[$i]}"
+        exit_code=$?
+        if [ $exit_code -ne 0 ]; then
+          failed_builds+=("${build_info[$i]}")
+          if [ "$fail_fast" = true ]; then
+            echo "Build failed, exiting due to fail-fast mode"
+            # Kill remaining jobs
+            for pid in "${pids[@]}"; do
+              kill -TERM "$pid" 2>/dev/null || true
+            done
+            exit 1
+          fi
+        fi
+        unset pids[$i]
+        unset build_info[$i]
+        # Reindex arrays
+        pids=("${pids[@]}")
+        build_info=("${build_info[@]}")
+        break
+      fi
+    done
+    sleep 0.1
+  done
+}
+
 start_esphome() {
   if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
     echo "Skipping $target_platform_with_version"
     return
   fi
+
+  # Apply platform filter if specified
+  if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+    echo "Skipping $target_platform_with_version (filtered)"
+    return
+  fi
+
   # create dynamic yaml file in `build` folder.
-  # `./tests/test_build_components/build/[target_component].[test_name].[target_platform_with_version].yaml`
   component_test_file="./tests/test_build_components/build/$target_component.$test_name.$target_platform_with_version.yaml"
 
   cp $target_platform_file $component_test_file
@@ -49,17 +111,72 @@ start_esphome() {
     sed -i "s!\$component_test_file!../../.$f!g" $component_test_file
   fi
 
-  # Start esphome process
-  echo "> [$target_component] [$test_name] [$target_platform_with_version]"
-  set -x
-  # TODO: Validate escape of Command line substitution value
-  python3 -m esphome -s component_name $target_component -s component_dir ../../components/$target_component -s test_name $test_name -s target_platform $target_platform $esphome_command $component_test_file
-  { set +x; } 2>/dev/null
+  # Start esphome process in background
+  build_count=$((build_count + 1))
+  echo "> [$build_count/$total_builds] [$target_component] [$test_name] [$target_platform_with_version]"
+  
+  (
+    # Add compile process limit for ESPHome internal parallelization
+    export ESPHOME_COMPILE_PROCESS_LIMIT=2
+    python3 -m esphome -s component_name $target_component -s component_dir ../../components/$target_component -s test_name $test_name -s target_platform $target_platform $esphome_command $component_test_file
+  ) &
+  
+  local pid=$!
+  pids+=($pid)
+  build_info+=("$target_component/$test_name/$target_platform_with_version")
+  
+  # Wait if we've reached the job limit
+  wait_for_jobs $num_jobs
 }
 
-# Find all test yaml files.
-# - `./tests/components/[target_component]/[test_name].[target_platform].yaml`
-# - `./tests/components/[target_component]/[test_name].all.yaml`
+# First pass: count total builds
+echo "Calculating total number of builds..."
+for f in ./tests/components/$target_component/*.*.yaml; do
+  [ -f "$f" ] || continue
+  IFS='/' read -r -a folder_name <<< "$f"
+  IFS='.' read -r -a file_name <<< "${folder_name[4]}"
+  target_platform="${file_name[1]}"
+  file_name_parts=${#file_name[@]}
+
+  if [ "$target_platform" = "all" ] || [ $file_name_parts = 2 ]; then
+    for target_platform_file in ./tests/test_build_components/build_components_base.*.yaml; do
+      IFS='/' read -r -a folder_name <<< "$target_platform_file"
+      IFS='.' read -r -a file_name <<< "${folder_name[3]}"
+      target_platform="${file_name[1]}"
+      target_platform_with_version=${target_platform_file:52}
+      target_platform_with_version=${target_platform_with_version%.*}
+      
+      if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+        continue
+      fi
+      if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
+        continue
+      fi
+      total_builds=$((total_builds + 1))
+    done
+  else
+    target_platform_file="./tests/test_build_components/build_components_base.$target_platform.yaml"
+    if [ -f "$target_platform_file" ]; then
+      for target_platform_file in ./tests/test_build_components/build_components_base.$target_platform*.yaml; do
+        target_platform_with_version=${target_platform_file:52}
+        target_platform_with_version=${target_platform_with_version%.*}
+        
+        if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+          continue
+        fi
+        if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
+          continue
+        fi
+        total_builds=$((total_builds + 1))
+      done
+    fi
+  fi
+done
+
+echo "Total builds to execute: $total_builds with $num_jobs parallel jobs"
+echo
+
+# Second pass: execute builds
 for f in ./tests/components/$target_component/*.*.yaml; do
   [ -f "$f" ] || continue
   IFS='/' read -r -a folder_name <<< "$f"
@@ -77,6 +194,8 @@ for f in ./tests/components/$target_component/*.*.yaml; do
       IFS='/' read -r -a folder_name <<< "$target_platform_file"
       IFS='.' read -r -a file_name <<< "${folder_name[3]}"
       target_platform="${file_name[1]}"
+      target_platform_with_version=${target_platform_file:52}
+      target_platform_with_version=${target_platform_with_version%.*}
 
       start_esphome
     done
@@ -85,9 +204,6 @@ for f in ./tests/components/$target_component/*.*.yaml; do
     # Test has defined a specific target platform.
   
     # Validate we have a base test yaml for selected platform.
-    # The target_platform is sourced from the following location.
-    # 1. `./tests/test_build_components/build_components_base.[target_platform].yaml`
-    # 2. `./tests/test_build_components/build_components_base.[target_platform]-ard.yaml`
     target_platform_file="./tests/test_build_components/build_components_base.$target_platform.yaml"
     if ! [ -f "$target_platform_file" ]; then
       echo "No base test file [./tests/test_build_components/build_components_base.$target_platform.yaml] for component test [$f] found."
@@ -104,3 +220,23 @@ for f in ./tests/components/$target_component/*.*.yaml; do
     done
   fi
 done
+
+# Wait for all remaining jobs
+wait_for_jobs 1
+
+echo
+echo "============================================"
+echo "Build Summary:"
+echo "Total builds: $total_builds"
+echo "Failed builds: ${#failed_builds[@]}"
+
+if [ ${#failed_builds[@]} -gt 0 ]; then
+  echo
+  echo "Failed builds:"
+  for build in "${failed_builds[@]}"; do
+    echo "  - $build"
+  done
+  exit 1
+else
+  echo "All builds completed successfully!"
+fi
\ No newline at end of file
diff --git a/script/test_build_components_parallel b/script/test_build_components_parallel
new file mode 100755
index 0000000000..e1089fd0d6
--- /dev/null
+++ b/script/test_build_components_parallel
@@ -0,0 +1,242 @@
+#!/usr/bin/env bash
+
+set -e
+
+help() {
+  echo "Usage: $0 [-e <config|compile|clean>] [-c <string>] [-t <string>] [-j <number>] [-p <string>] [-f]" 1>&2
+  echo 1>&2
+  echo "  - e - Parameter for esphome command. Default compile. Common alternative is config." 1>&2
+  echo "  - c - Component folder name to test. Default *. E.g. '-c logger'." 1>&2
+  echo "  - t - Target name to test. Put '-t list' to display all possibilities. E.g. '-t esp32-s2-idf-51'." 1>&2
+  echo "  - j - Number of parallel jobs. Default is number of CPU cores." 1>&2
+  echo "  - p - Platform filter. E.g. '-p esp32' to test only ESP32 platforms." 1>&2
+  echo "  - f - Fail fast. Exit on first failure." 1>&2
+  echo "  - b - Build cache directory. E.g. '-b /tmp/esphome_cache'." 1>&2
+  exit 1
+}
+
+# Parse parameter:
+esphome_command="compile"
+target_component="*"
+num_jobs=$(nproc 2>/dev/null || sysctl -n hw.ncpu 2>/dev/null || echo 4)
+platform_filter=""
+fail_fast=false
+build_cache_dir=""
+
+while getopts e:c:t:j:p:b:fh flag
+do
+    case $flag in
+        e) esphome_command=${OPTARG};;
+        c) target_component=${OPTARG};;
+        t) requested_target_platform=${OPTARG};;
+        j) num_jobs=${OPTARG};;
+        p) platform_filter=${OPTARG};;
+        f) fail_fast=true;;
+        b) build_cache_dir=${OPTARG};;
+        h) help;;
+        \?) help;;
+    esac
+done
+
+cd "$(dirname "$0")/.."
+
+if ! [ -d "./tests/test_build_components/build" ]; then
+  mkdir -p ./tests/test_build_components/build
+fi
+
+# Export build cache directory if specified
+if [ -n "$build_cache_dir" ]; then
+  export PLATFORMIO_BUILD_CACHE_DIR="$build_cache_dir"
+  mkdir -p "$build_cache_dir"
+  echo "Using build cache directory: $build_cache_dir"
+fi
+
+# Track PIDs for parallel execution
+pids=()
+failed_builds=()
+build_count=0
+total_builds=0
+
+# Function to wait for jobs and handle failures
+wait_for_jobs() {
+  local max_jobs=$1
+  while [ ${#pids[@]} -ge $max_jobs ]; do
+    for i in "${!pids[@]}"; do
+      if ! kill -0 "${pids[$i]}" 2>/dev/null; then
+        wait "${pids[$i]}"
+        exit_code=$?
+        if [ $exit_code -ne 0 ]; then
+          failed_builds+=("${build_info[$i]}")
+          if [ "$fail_fast" = true ]; then
+            echo "Build failed, exiting due to fail-fast mode"
+            # Kill remaining jobs
+            for pid in "${pids[@]}"; do
+              kill -TERM "$pid" 2>/dev/null || true
+            done
+            exit 1
+          fi
+        fi
+        unset pids[$i]
+        unset build_info[$i]
+        # Reindex arrays
+        pids=("${pids[@]}")
+        build_info=("${build_info[@]}")
+        break
+      fi
+    done
+    sleep 0.1
+  done
+}
+
+start_esphome() {
+  if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
+    echo "Skipping $target_platform_with_version"
+    return
+  fi
+
+  # Apply platform filter if specified
+  if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+    echo "Skipping $target_platform_with_version (filtered)"
+    return
+  fi
+
+  # create dynamic yaml file in `build` folder.
+  component_test_file="./tests/test_build_components/build/$target_component.$test_name.$target_platform_with_version.yaml"
+
+  cp $target_platform_file $component_test_file
+  if [[ "$OSTYPE" == "darwin"* ]]; then
+    # macOS sed is...different
+    sed -i '' "s!\$component_test_file!../../.$f!g" $component_test_file
+  else
+    sed -i "s!\$component_test_file!../../.$f!g" $component_test_file
+  fi
+
+  # Start esphome process in background
+  build_count=$((build_count + 1))
+  echo "> [$build_count/$total_builds] [$target_component] [$test_name] [$target_platform_with_version]"
+  
+  (
+    # Add compile process limit for ESPHome internal parallelization
+    export ESPHOME_COMPILE_PROCESS_LIMIT=2
+    python3 -m esphome -s component_name $target_component -s component_dir ../../components/$target_component -s test_name $test_name -s target_platform $target_platform $esphome_command $component_test_file
+  ) &
+  
+  local pid=$!
+  pids+=($pid)
+  build_info+=("$target_component/$test_name/$target_platform_with_version")
+  
+  # Wait if we've reached the job limit
+  wait_for_jobs $num_jobs
+}
+
+# First pass: count total builds
+echo "Calculating total number of builds..."
+for f in ./tests/components/$target_component/*.*.yaml; do
+  [ -f "$f" ] || continue
+  IFS='/' read -r -a folder_name <<< "$f"
+  IFS='.' read -r -a file_name <<< "${folder_name[4]}"
+  target_platform="${file_name[1]}"
+  file_name_parts=${#file_name[@]}
+
+  if [ "$target_platform" = "all" ] || [ $file_name_parts = 2 ]; then
+    for target_platform_file in ./tests/test_build_components/build_components_base.*.yaml; do
+      IFS='/' read -r -a folder_name <<< "$target_platform_file"
+      IFS='.' read -r -a file_name <<< "${folder_name[3]}"
+      target_platform="${file_name[1]}"
+      target_platform_with_version=${target_platform_file:52}
+      target_platform_with_version=${target_platform_with_version%.*}
+      
+      if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+        continue
+      fi
+      if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
+        continue
+      fi
+      total_builds=$((total_builds + 1))
+    done
+  else
+    target_platform_file="./tests/test_build_components/build_components_base.$target_platform.yaml"
+    if [ -f "$target_platform_file" ]; then
+      for target_platform_file in ./tests/test_build_components/build_components_base.$target_platform*.yaml; do
+        target_platform_with_version=${target_platform_file:52}
+        target_platform_with_version=${target_platform_with_version%.*}
+        
+        if [ -n "$platform_filter" ] && [[ ! "$target_platform_with_version" =~ ^$platform_filter ]]; then
+          continue
+        fi
+        if [ -n "$requested_target_platform" ] && [ "$requested_target_platform" != "$target_platform_with_version" ]; then
+          continue
+        fi
+        total_builds=$((total_builds + 1))
+      done
+    fi
+  fi
+done
+
+echo "Total builds to execute: $total_builds with $num_jobs parallel jobs"
+echo
+
+# Second pass: execute builds
+for f in ./tests/components/$target_component/*.*.yaml; do
+  [ -f "$f" ] || continue
+  IFS='/' read -r -a folder_name <<< "$f"
+  target_component="${folder_name[3]}"
+
+  IFS='.' read -r -a file_name <<< "${folder_name[4]}"
+  test_name="${file_name[0]}"
+  target_platform="${file_name[1]}"
+  file_name_parts=${#file_name[@]}
+
+  if [ "$target_platform" = "all" ] || [ $file_name_parts = 2 ]; then
+    # Test has *not* defined a specific target platform. Need to run tests for all possible target platforms.
+    
+    for target_platform_file in ./tests/test_build_components/build_components_base.*.yaml; do
+      IFS='/' read -r -a folder_name <<< "$target_platform_file"
+      IFS='.' read -r -a file_name <<< "${folder_name[3]}"
+      target_platform="${file_name[1]}"
+      target_platform_with_version=${target_platform_file:52}
+      target_platform_with_version=${target_platform_with_version%.*}
+
+      start_esphome
+    done
+
+  else
+    # Test has defined a specific target platform.
+  
+    # Validate we have a base test yaml for selected platform.
+    target_platform_file="./tests/test_build_components/build_components_base.$target_platform.yaml"
+    if ! [ -f "$target_platform_file" ]; then
+      echo "No base test file [./tests/test_build_components/build_components_base.$target_platform.yaml] for component test [$f] found."
+      exit 1
+    fi
+
+    for target_platform_file in ./tests/test_build_components/build_components_base.$target_platform*.yaml; do
+      # trim off "./tests/test_build_components/build_components_base." prefix
+      target_platform_with_version=${target_platform_file:52}
+      # ...now remove suffix starting with "." leaving just the test target hardware and software platform (possibly with version)
+      # For example: "esp32-s3-idf-50"
+      target_platform_with_version=${target_platform_with_version%.*}
+      start_esphome
+    done
+  fi
+done
+
+# Wait for all remaining jobs
+wait_for_jobs 1
+
+echo
+echo "============================================"
+echo "Build Summary:"
+echo "Total builds: $total_builds"
+echo "Failed builds: ${#failed_builds[@]}"
+
+if [ ${#failed_builds[@]} -gt 0 ]; then
+  echo
+  echo "Failed builds:"
+  for build in "${failed_builds[@]}"; do
+    echo "  - $build"
+  done
+  exit 1
+else
+  echo "All builds completed successfully!"
+fi
\ No newline at end of file