diff --git a/homeassistant/helpers/template.py b/homeassistant/helpers/template.py
index dfab80e5223..24852ab5cf3 100644
--- a/homeassistant/helpers/template.py
+++ b/homeassistant/helpers/template.py
@@ -559,8 +559,11 @@ class Template:
 
     @callback
     def async_render_with_possible_json_value(
-        self, value, error_value=_SENTINEL, variables=None
-    ):
+        self,
+        value: Any,
+        error_value: Any = _SENTINEL,
+        variables: dict[str, Any] | None = None,
+    ) -> Any:
         """Render template with value exposed.
 
         If valid JSON will expose value_json too.
@@ -570,8 +573,7 @@ class Template:
         if self.is_static:
             return self.template
 
-        if self._compiled is None:
-            self._ensure_compiled()
+        compiled = self._compiled or self._ensure_compiled()
 
         variables = dict(variables or {})
         variables["value"] = value
@@ -580,9 +582,7 @@ class Template:
             variables["value_json"] = json_loads(value)
 
         try:
-            return _render_with_context(
-                self.template, self._compiled, **variables
-            ).strip()
+            return _render_with_context(self.template, compiled, **variables).strip()
         except jinja2.TemplateError as ex:
             if error_value is _SENTINEL:
                 _LOGGER.error(