diff --git a/packages/compiler-cli/src/ngtsc/annotations/src/component.ts b/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
index 980eb03c50..f68f4bc21d 100644
--- a/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
+++ b/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
@@ -71,6 +71,16 @@ export interface ComponentAnalysisData {
 
   resources: ComponentResources;
 
+  /**
+   * The literal `styleUrls` extracted from the decorator, if present.
+   */
+  styleUrls: string[]|null;
+
+  /**
+   * Inline stylesheets extracted from the decorator, if present.
+   */
+  inlineStyles: string[]|null;
+
   isPoisoned: boolean;
 }
 
@@ -275,9 +285,11 @@ export class ComponentDecoratorHandler implements
         }
       }
     }
+    let inlineStyles: string[]|null = null;
     if (component.has('styles')) {
       const litStyles = parseFieldArrayValue(component, 'styles', this.evaluator);
       if (litStyles !== null) {
+        inlineStyles = [...litStyles];
         if (styles === null) {
           styles = litStyles;
         } else {
@@ -333,6 +345,8 @@ export class ComponentDecoratorHandler implements
         template,
         providersRequiringFactory,
         viewProvidersRequiringFactory,
+        inlineStyles,
+        styleUrls,
         resources: {
           styles: styleResources,
           template: templateResource,
@@ -581,6 +595,37 @@ export class ComponentDecoratorHandler implements
     return {data};
   }
 
+  updateResources(node: ClassDeclaration, analysis: ComponentAnalysisData): void {
+    const containingFile = node.getSourceFile().fileName;
+
+    // If the template is external, re-parse it.
+    const templateDecl = analysis.template.declaration;
+    if (!templateDecl.isInline) {
+      analysis.template = this.extractTemplate(node, templateDecl);
+    }
+
+    // Update any external stylesheets and rebuild the combined 'styles' list.
+    // TODO(alxhub): write tests for styles when the primary compiler uses the updateResources path
+    let styles: string[] = [];
+    if (analysis.styleUrls !== null) {
+      for (const styleUrl of analysis.styleUrls) {
+        const resolvedStyleUrl = this.resourceLoader.resolve(styleUrl, containingFile);
+        const styleText = this.resourceLoader.load(resolvedStyleUrl);
+        styles.push(styleText);
+      }
+    }
+    if (analysis.inlineStyles !== null) {
+      for (const styleText of analysis.inlineStyles) {
+        styles.push(styleText);
+      }
+    }
+    for (const styleText of analysis.template.styles) {
+      styles.push(styleText);
+    }
+
+    analysis.meta.styles = styles;
+  }
+
   compileFull(
       node: ClassDeclaration, analysis: Readonly<ComponentAnalysisData>,
       resolution: Readonly<ComponentResolutionData>, pool: ConstantPool): CompileResult[] {
diff --git a/packages/compiler-cli/src/ngtsc/core/src/compiler.ts b/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
index 687872955d..3f55b98f97 100644
--- a/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
+++ b/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
@@ -63,6 +63,7 @@ interface LazyCompilationState {
 export enum CompilationTicketKind {
   Fresh,
   IncrementalTypeScript,
+  IncrementalResource,
 }
 
 /**
@@ -93,6 +94,12 @@ export interface IncrementalTypeScriptCompilationTicket {
   usePoisonedData: boolean;
 }
 
+export interface IncrementalResourceCompilationTicket {
+  kind: CompilationTicketKind.IncrementalResource;
+  compiler: NgCompiler;
+  modifiedResourceFiles: Set<string>;
+}
+
 /**
  * A request to begin Angular compilation, either starting from scratch or from a known prior state.
  *
@@ -100,7 +107,8 @@ export interface IncrementalTypeScriptCompilationTicket {
  * Angular compiler. They abstract the starting state of compilation and allow `NgCompiler` to be
  * managed independently of any incremental compilation lifecycle.
  */
-export type CompilationTicket = FreshCompilationTicket|IncrementalTypeScriptCompilationTicket;
+export type CompilationTicket = FreshCompilationTicket|IncrementalTypeScriptCompilationTicket|
+    IncrementalResourceCompilationTicket;
 
 /**
  * Create a `CompilationTicket` for a brand new compilation, using no prior state.
@@ -180,6 +188,15 @@ export function incrementalFromDriverTicket(
   };
 }
 
+export function resourceChangeTicket(compiler: NgCompiler, modifiedResourceFiles: Set<string>):
+    IncrementalResourceCompilationTicket {
+  return {
+    kind: CompilationTicketKind.IncrementalResource,
+    compiler,
+    modifiedResourceFiles,
+  };
+}
+
 
 /**
  * The heart of the Angular Ivy compiler.
@@ -260,6 +277,10 @@ export class NgCompiler {
             ticket.usePoisonedData,
             perfRecorder,
         );
+      case CompilationTicketKind.IncrementalResource:
+        const compiler = ticket.compiler;
+        compiler.updateWithChangedResources(ticket.modifiedResourceFiles);
+        return compiler;
     }
   }
 
@@ -306,6 +327,36 @@ export class NgCompiler {
     this.ignoreForEmit = this.adapter.ignoreForEmit;
   }
 
+  private updateWithChangedResources(changedResources: Set<string>): void {
+    if (this.compilation === null) {
+      // Analysis hasn't happened yet, so no update is necessary - any changes to resources will be
+      // captured by the inital analysis pass itself.
+      return;
+    }
+
+    this.resourceManager.invalidate();
+
+    const classesToUpdate = new Set<DeclarationNode>();
+    for (const resourceFile of changedResources) {
+      for (const templateClass of this.getComponentsWithTemplateFile(resourceFile)) {
+        classesToUpdate.add(templateClass);
+      }
+
+      for (const styleClass of this.getComponentsWithStyleFile(resourceFile)) {
+        classesToUpdate.add(styleClass);
+      }
+    }
+
+    for (const clazz of classesToUpdate) {
+      this.compilation.traitCompiler.updateResources(clazz);
+      if (!ts.isClassDeclaration(clazz)) {
+        continue;
+      }
+
+      this.compilation.templateTypeChecker.invalidateClass(clazz);
+    }
+  }
+
   /**
    * Get the resource dependencies of a file.
    *
diff --git a/packages/compiler-cli/src/ngtsc/core/test/compiler_test.ts b/packages/compiler-cli/src/ngtsc/core/test/compiler_test.ts
index f71982ed2f..785499527d 100644
--- a/packages/compiler-cli/src/ngtsc/core/test/compiler_test.ts
+++ b/packages/compiler-cli/src/ngtsc/core/test/compiler_test.ts
@@ -17,7 +17,7 @@ import {OptimizeFor, TypeCheckingProgramStrategy} from '../../typecheck/api';
 
 import {NgCompilerOptions} from '../api';
 
-import {freshCompilationTicket, NgCompiler} from '../src/compiler';
+import {freshCompilationTicket, NgCompiler, resourceChangeTicket} from '../src/compiler';
 import {NgCompilerHost} from '../src/host';
 
 function makeFreshCompiler(
@@ -111,6 +111,7 @@ runInEachFileSystem(() => {
         const program = ts.createProgram({host, options, rootNames: host.inputFiles});
         const CmpA = getClass(getSourceFileOrError(program, cmpAFile), 'CmpA');
         const CmpC = getClass(getSourceFileOrError(program, cmpCFile), 'CmpC');
+
         const compiler = makeFreshCompiler(
             host, options, program, new ReusedProgramStrategy(program, host, options, []),
             new NoopIncrementalBuildStrategy(), /** enableTemplateTypeChecker */ false,
@@ -278,6 +279,53 @@ runInEachFileSystem(() => {
         ]));
       });
     });
+
+    describe('resource-only changes', () => {
+      it('should reuse the full compilation state for a resource-only change', () => {
+        const COMPONENT = _('/cmp.ts');
+        const TEMPLATE = _('/template.html');
+        fs.writeFile(COMPONENT, `
+          import {Component} from '@angular/core';
+          @Component({
+            selector: 'test-cmp',
+            templateUrl: './template.html',
+          })
+          export class Cmp {}
+        `);
+        fs.writeFile(TEMPLATE, `<h1>Resource</h1>`);
+
+        const options: NgCompilerOptions = {
+          strictTemplates: true,
+        };
+        const baseHost = new NgtscCompilerHost(getFileSystem(), options);
+        const host = NgCompilerHost.wrap(baseHost, [COMPONENT], options, /* oldProgram */ null);
+        const program = ts.createProgram({host, options, rootNames: host.inputFiles});
+        const compilerA = makeFreshCompiler(
+            host, options, program, new ReusedProgramStrategy(program, host, options, []),
+            new NoopIncrementalBuildStrategy(), /** enableTemplateTypeChecker */ false,
+            /* usePoisonedData */ false);
+
+        const componentSf = getSourceFileOrError(program, COMPONENT);
+
+        // There should be no diagnostics for the component.
+        expect(compilerA.getDiagnosticsForFile(componentSf, OptimizeFor.WholeProgram).length)
+            .toBe(0);
+
+        // Change the resource file and introduce an error.
+        fs.writeFile(TEMPLATE, `<h1>Resource</h2>`);
+
+        // Perform a resource-only incremental step.
+        const resourceTicket = resourceChangeTicket(compilerA, new Set([TEMPLATE]));
+        const compilerB = NgCompiler.fromTicket(resourceTicket, host);
+
+        // A resource-only update should reuse the same compiler instance.
+        expect(compilerB).toBe(compilerA);
+
+        // The new template error should be reported in component diagnostics.
+        expect(compilerB.getDiagnosticsForFile(componentSf, OptimizeFor.WholeProgram).length)
+            .toBe(1);
+      });
+    });
   });
 });
 
diff --git a/packages/compiler-cli/src/ngtsc/resource/src/loader.ts b/packages/compiler-cli/src/ngtsc/resource/src/loader.ts
index 62e89ef784..d4abec76ff 100644
--- a/packages/compiler-cli/src/ngtsc/resource/src/loader.ts
+++ b/packages/compiler-cli/src/ngtsc/resource/src/loader.ts
@@ -113,6 +113,13 @@ export class AdapterResourceLoader implements ResourceLoader {
     return result;
   }
 
+  /**
+   * Invalidate the entire resource cache.
+   */
+  invalidate(): void {
+    this.cache.clear();
+  }
+
   /**
    * Attempt to resolve `url` in the context of `fromFile`, while respecting the rootDirs
    * option from the tsconfig. First, normalize the file name.
diff --git a/packages/compiler-cli/src/ngtsc/transform/src/api.ts b/packages/compiler-cli/src/ngtsc/transform/src/api.ts
index fe09717966..f8ed438530 100644
--- a/packages/compiler-cli/src/ngtsc/transform/src/api.ts
+++ b/packages/compiler-cli/src/ngtsc/transform/src/api.ts
@@ -128,6 +128,12 @@ export interface DecoratorHandler<D, A, R> {
   analyze(node: ClassDeclaration, metadata: Readonly<D>, handlerFlags?: HandlerFlags):
       AnalysisOutput<A>;
 
+  /**
+   * React to a change in a resource file by updating the `analysis` or `resolution`, under the
+   * assumption that nothing in the TypeScript code has changed.
+   */
+  updateResources?(node: ClassDeclaration, analysis: A, resolution: R): void;
+
   /**
    * Post-process the analysis of a decorator/class combination and record any necessary information
    * in the larger compilation.
diff --git a/packages/compiler-cli/src/ngtsc/transform/src/compilation.ts b/packages/compiler-cli/src/ngtsc/transform/src/compilation.ts
index a3347323ef..7e3ded3822 100644
--- a/packages/compiler-cli/src/ngtsc/transform/src/compilation.ts
+++ b/packages/compiler-cli/src/ngtsc/transform/src/compilation.ts
@@ -453,6 +453,20 @@ export class TraitCompiler implements ProgramTypeCheckAdapter {
     }
   }
 
+  updateResources(clazz: DeclarationNode): void {
+    if (!this.reflector.isClass(clazz) || !this.classes.has(clazz)) {
+      return;
+    }
+    const record = this.classes.get(clazz)!;
+    for (const trait of record.traits) {
+      if (trait.state !== TraitState.Resolved || trait.handler.updateResources === undefined) {
+        continue;
+      }
+
+      trait.handler.updateResources(clazz, trait.analysis, trait.resolution);
+    }
+  }
+
   compile(clazz: DeclarationNode, constantPool: ConstantPool): CompileResult[]|null {
     const original = ts.getOriginalNode(clazz) as typeof clazz;
     if (!this.reflector.isClass(clazz) || !this.reflector.isClass(original) ||
diff --git a/packages/compiler-cli/src/ngtsc/typecheck/api/checker.ts b/packages/compiler-cli/src/ngtsc/typecheck/api/checker.ts
index c65016b284..06f55664f7 100644
--- a/packages/compiler-cli/src/ngtsc/typecheck/api/checker.ts
+++ b/packages/compiler-cli/src/ngtsc/typecheck/api/checker.ts
@@ -165,6 +165,12 @@ export interface TemplateTypeChecker {
    * Retrieve the type checking engine's metadata for the given directive class, if available.
    */
   getDirectiveMetadata(dir: ts.ClassDeclaration): TypeCheckableDirectiveMeta|null;
+
+  /**
+   * Reset the `TemplateTypeChecker`'s state for the given class, so that it will be recomputed on
+   * the next request.
+   */
+  invalidateClass(clazz: ts.ClassDeclaration): void;
 }
 
 /**
diff --git a/packages/compiler-cli/src/ngtsc/typecheck/src/checker.ts b/packages/compiler-cli/src/ngtsc/typecheck/src/checker.ts
index 2cd5cfffa4..68ff907a02 100644
--- a/packages/compiler-cli/src/ngtsc/typecheck/src/checker.ts
+++ b/packages/compiler-cli/src/ngtsc/typecheck/src/checker.ts
@@ -318,6 +318,25 @@ export class TemplateTypeCheckerImpl implements TemplateTypeChecker {
     return engine.getExpressionCompletionLocation(ast);
   }
 
+  invalidateClass(clazz: ts.ClassDeclaration): void {
+    this.completionCache.delete(clazz);
+    this.symbolBuilderCache.delete(clazz);
+    this.scopeCache.delete(clazz);
+    this.elementTagCache.delete(clazz);
+
+    const sf = clazz.getSourceFile();
+    const sfPath = absoluteFromSourceFile(sf);
+    const shimPath = this.typeCheckingStrategy.shimPathForComponent(clazz);
+    const fileData = this.getFileData(sfPath);
+    const templateId = fileData.sourceManager.getTemplateId(clazz);
+
+    fileData.shimData.delete(shimPath);
+    fileData.isComplete = false;
+    fileData.templateOverrides?.delete(templateId);
+
+    this.isComplete = false;
+  }
+
   private getOrCreateCompletionEngine(component: ts.ClassDeclaration): CompletionEngine|null {
     if (this.completionCache.has(component)) {
       return this.completionCache.get(component)!;