diff --git a/homeassistant/setup.py b/homeassistant/setup.py
index 238f3bf3ac7..d6eb804acf0 100644
--- a/homeassistant/setup.py
+++ b/homeassistant/setup.py
@@ -131,17 +131,23 @@ async def async_setup_component(
     if domain in hass.config.components:
         return True
 
-    setup_tasks: dict[str, asyncio.Task[bool]] = hass.data.setdefault(DATA_SETUP, {})
-
-    if domain in setup_tasks:
-        return await setup_tasks[domain]
-
-    task = setup_tasks[domain] = hass.async_create_task(
-        _async_setup_component(hass, domain, config), f"setup component {domain}"
+    setup_futures: dict[str, asyncio.Future[bool]] = hass.data.setdefault(
+        DATA_SETUP, {}
     )
 
+    if existing_future := setup_futures.get(domain):
+        return await existing_future
+
+    future = hass.loop.create_future()
+    setup_futures[domain] = future
+
     try:
-        return await task
+        result = await _async_setup_component(hass, domain, config)
+        future.set_result(result)
+        return result
+    except BaseException as err:  # pylint: disable=broad-except
+        future.set_exception(err)
+        raise
     finally:
         if domain in hass.data.get(DATA_SETUP_DONE, {}):
             hass.data[DATA_SETUP_DONE].pop(domain).set()
diff --git a/tests/test_config_entries.py b/tests/test_config_entries.py
index 71334b753fa..ba331102745 100644
--- a/tests/test_config_entries.py
+++ b/tests/test_config_entries.py
@@ -20,13 +20,7 @@ from homeassistant.const import (
     EVENT_HOMEASSISTANT_STARTED,
     EVENT_HOMEASSISTANT_STOP,
 )
-from homeassistant.core import (
-    DOMAIN as HA_DOMAIN,
-    CoreState,
-    Event,
-    HomeAssistant,
-    callback,
-)
+from homeassistant.core import DOMAIN as HA_DOMAIN, CoreState, HomeAssistant, callback
 from homeassistant.data_entry_flow import BaseServiceInfo, FlowResult, FlowResultType
 from homeassistant.exceptions import (
     ConfigEntryAuthFailed,
@@ -46,6 +40,7 @@ from .common import (
     MockEntity,
     MockModule,
     MockPlatform,
+    async_capture_events,
     async_fire_time_changed,
     mock_config_flow,
     mock_integration,
@@ -2811,14 +2806,7 @@ async def test_async_setup_init_entry_completes_before_loaded_event_fires(
     hass: HomeAssistant, manager: config_entries.ConfigEntries
 ) -> None:
     """Test a config entry being initialized during integration setup before the loaded event fires."""
-    load_events: list[Event] = []
-
-    @callback
-    def _record_load(event: Event) -> None:
-        nonlocal load_events
-        load_events.append(event)
-
-    listener = hass.bus.async_listen(EVENT_COMPONENT_LOADED, _record_load)
+    load_events = async_capture_events(hass, EVENT_COMPONENT_LOADED)
 
     async def mock_async_setup(hass, config):
         """Mock setup."""
@@ -2872,8 +2860,6 @@ async def test_async_setup_init_entry_completes_before_loaded_event_fires(
         assert len(entries) == 1
         assert entries[0].state is config_entries.ConfigEntryState.LOADED
 
-    listener()
-
 
 async def test_async_setup_update_entry(hass: HomeAssistant) -> None:
     """Test a config entry being updated during integration setup."""