diff --git a/packages/compiler-cli/src/ngtsc/annotations/src/component.ts b/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
index 7c255a4050..07225e8546 100644
--- a/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
+++ b/packages/compiler-cli/src/ngtsc/annotations/src/component.ts
@@ -262,7 +262,7 @@ export class ComponentDecoratorHandler implements
       }
     }
     const templateResource = template.isInline ?
-        null :
+        {path: null, expression: component.get('template')!} :
         {path: absoluteFrom(template.templateUrl), expression: template.sourceMapping.node};
 
     let diagnostics: ts.Diagnostic[]|undefined = undefined;
@@ -666,21 +666,30 @@ export class ComponentDecoratorHandler implements
 
   private _extractStyleResources(component: Map<string, ts.Expression>, containingFile: string):
       ReadonlySet<Resource> {
-    const styleUrlsExpr = component.get('styleUrls');
-    // If styleUrls is a literal array of strings, process each resource url individually and
-    // register them. Otherwise, give up and return an empty set.
-    if (styleUrlsExpr === undefined || !ts.isArrayLiteralExpression(styleUrlsExpr) ||
-        !styleUrlsExpr.elements.every(e => ts.isStringLiteralLike(e))) {
-      return new Set();
+    const styles = new Set<Resource>();
+    function stringLiteralElements(array: ts.ArrayLiteralExpression): ts.StringLiteralLike[] {
+      return array.elements.filter(
+          (e: ts.Expression): e is ts.StringLiteralLike => ts.isStringLiteralLike(e));
     }
 
-    const externalStyles = new Set<Resource>();
-    for (const expression of styleUrlsExpr.elements) {
-      const resourceUrl =
-          this.resourceLoader.resolve((expression as ts.StringLiteralLike).text, containingFile);
-      externalStyles.add({path: absoluteFrom(resourceUrl), expression});
+    // If styleUrls is a literal array, process each resource url individually and
+    // register ones that are string literals.
+    const styleUrlsExpr = component.get('styleUrls');
+    if (styleUrlsExpr !== undefined && ts.isArrayLiteralExpression(styleUrlsExpr)) {
+      for (const expression of stringLiteralElements(styleUrlsExpr)) {
+        const resourceUrl = this.resourceLoader.resolve(expression.text, containingFile);
+        styles.add({path: absoluteFrom(resourceUrl), expression});
+      }
     }
-    return externalStyles;
+
+    const stylesExpr = component.get('styles');
+    if (stylesExpr !== undefined && ts.isArrayLiteralExpression(stylesExpr)) {
+      for (const expression of stringLiteralElements(stylesExpr)) {
+        styles.add({path: null, expression});
+      }
+    }
+
+    return styles;
   }
 
   private _preloadAndParseTemplate(
diff --git a/packages/compiler-cli/src/ngtsc/annotations/test/component_spec.ts b/packages/compiler-cli/src/ngtsc/annotations/test/component_spec.ts
index 395ff0f14c..903745ba1c 100644
--- a/packages/compiler-cli/src/ngtsc/annotations/test/component_spec.ts
+++ b/packages/compiler-cli/src/ngtsc/annotations/test/component_spec.ts
@@ -18,18 +18,49 @@ import {getDeclaration, makeProgram} from '../../testing';
 import {ResourceLoader} from '../src/api';
 import {ComponentDecoratorHandler} from '../src/component';
 
-export class NoopResourceLoader implements ResourceLoader {
-  resolve(): string {
-    throw new Error('Not implemented.');
+export class StubResourceLoader implements ResourceLoader {
+  resolve(v: string): string {
+    return v;
   }
   canPreload = false;
-  load(): string {
-    throw new Error('Not implemented');
+  load(v: string): string {
+    return '';
   }
   preload(): Promise<void>|undefined {
     throw new Error('Not implemented');
   }
 }
+
+function setup(program: ts.Program, options: ts.CompilerOptions, host: ts.CompilerHost) {
+  const checker = program.getTypeChecker();
+  const reflectionHost = new TypeScriptReflectionHost(checker);
+  const evaluator = new PartialEvaluator(reflectionHost, checker, /* dependencyTracker */ null);
+  const moduleResolver =
+      new ModuleResolver(program, options, host, /* moduleResolutionCache */ null);
+  const importGraph = new ImportGraph(moduleResolver);
+  const cycleAnalyzer = new CycleAnalyzer(importGraph);
+  const metaRegistry = new LocalMetadataRegistry();
+  const dtsReader = new DtsMetadataReader(checker, reflectionHost);
+  const scopeRegistry = new LocalModuleScopeRegistry(
+      metaRegistry, new MetadataDtsModuleScopeResolver(dtsReader, null), new ReferenceEmitter([]),
+      null);
+  const metaReader = new CompoundMetadataReader([metaRegistry, dtsReader]);
+  const refEmitter = new ReferenceEmitter([]);
+  const injectableRegistry = new InjectableClassRegistry(reflectionHost);
+  const resourceRegistry = new ResourceRegistry();
+
+  const handler = new ComponentDecoratorHandler(
+      reflectionHost, evaluator, metaRegistry, metaReader, scopeRegistry, scopeRegistry,
+      resourceRegistry,
+      /* isCore */ false, new StubResourceLoader(), /* rootDirs */['/'],
+      /* defaultPreserveWhitespaces */ false, /* i18nUseExternalIds */ true,
+      /* enableI18nLegacyMessageIdFormat */ false,
+      /* i18nNormalizeLineEndingsInICUs */ undefined, moduleResolver, cycleAnalyzer, refEmitter,
+      NOOP_DEFAULT_IMPORT_RECORDER, /* depTracker */ null, injectableRegistry,
+      /* annotateForClosureCompiler */ false);
+  return {reflectionHost, handler};
+}
+
 runInEachFileSystem(() => {
   describe('ComponentDecoratorHandler', () => {
     let _: typeof absoluteFrom;
@@ -51,31 +82,7 @@ runInEachFileSystem(() => {
       `
         },
       ]);
-      const checker = program.getTypeChecker();
-      const reflectionHost = new TypeScriptReflectionHost(checker);
-      const evaluator = new PartialEvaluator(reflectionHost, checker, /* dependencyTracker */ null);
-      const moduleResolver =
-          new ModuleResolver(program, options, host, /* moduleResolutionCache */ null);
-      const importGraph = new ImportGraph(moduleResolver);
-      const cycleAnalyzer = new CycleAnalyzer(importGraph);
-      const metaRegistry = new LocalMetadataRegistry();
-      const dtsReader = new DtsMetadataReader(checker, reflectionHost);
-      const scopeRegistry = new LocalModuleScopeRegistry(
-          metaRegistry, new MetadataDtsModuleScopeResolver(dtsReader, null),
-          new ReferenceEmitter([]), null);
-      const metaReader = new CompoundMetadataReader([metaRegistry, dtsReader]);
-      const refEmitter = new ReferenceEmitter([]);
-      const injectableRegistry = new InjectableClassRegistry(reflectionHost);
-
-      const handler = new ComponentDecoratorHandler(
-          reflectionHost, evaluator, metaRegistry, metaReader, scopeRegistry, scopeRegistry,
-          new ResourceRegistry(),
-          /* isCore */ false, new NoopResourceLoader(), /* rootDirs */[''],
-          /* defaultPreserveWhitespaces */ false, /* i18nUseExternalIds */ true,
-          /* enableI18nLegacyMessageIdFormat */ false,
-          /* i18nNormalizeLineEndingsInICUs */ undefined, moduleResolver, cycleAnalyzer, refEmitter,
-          NOOP_DEFAULT_IMPORT_RECORDER, /* depTracker */ null, injectableRegistry,
-          /* annotateForClosureCompiler */ false);
+      const {reflectionHost, handler} = setup(program, options, host);
       const TestCmp = getDeclaration(program, _('/entry.ts'), 'TestCmp', isNamedClassDeclaration);
       const detected = handler.detect(TestCmp, reflectionHost.getDecoratorsOfDeclaration(TestCmp));
       if (detected === undefined) {
@@ -94,6 +101,104 @@ runInEachFileSystem(() => {
         expect(diag.start).toBe(detected.metadata.args![0].getStart());
       }
     });
+
+    it('should keep track of inline template', () => {
+      const template = '<span>inline</span>';
+      const {program, options, host} = makeProgram([
+        {
+          name: _('/node_modules/@angular/core/index.d.ts'),
+          contents: 'export const Component: any;',
+        },
+        {
+          name: _('/entry.ts'),
+          contents: `
+          import {Component} from '@angular/core';
+
+          @Component({
+            template: '${template}',
+          }) class TestCmp {}
+      `
+        },
+      ]);
+      const {reflectionHost, handler} = setup(program, options, host);
+      const TestCmp = getDeclaration(program, _('/entry.ts'), 'TestCmp', isNamedClassDeclaration);
+      const detected = handler.detect(TestCmp, reflectionHost.getDecoratorsOfDeclaration(TestCmp));
+      if (detected === undefined) {
+        return fail('Failed to recognize @Component');
+      }
+      const {analysis} = handler.analyze(TestCmp, detected.metadata);
+      expect(analysis?.resources.template.path).toBeNull();
+      expect(analysis?.resources.template.expression.getText()).toEqual(`'${template}'`);
+    });
+
+    it('should keep track of external template', () => {
+      const templateUrl = '/myTemplate.ng.html';
+      const {program, options, host} = makeProgram([
+        {
+          name: _('/node_modules/@angular/core/index.d.ts'),
+          contents: 'export const Component: any;',
+        },
+        {
+          name: _(templateUrl),
+          contents: '<div>hello world</div>',
+        },
+        {
+          name: _('/entry.ts'),
+          contents: `
+          import {Component} from '@angular/core';
+
+          @Component({
+            templateUrl: '${templateUrl}',
+          }) class TestCmp {}
+      `
+        },
+      ]);
+      const {reflectionHost, handler} = setup(program, options, host);
+      const TestCmp = getDeclaration(program, _('/entry.ts'), 'TestCmp', isNamedClassDeclaration);
+      const detected = handler.detect(TestCmp, reflectionHost.getDecoratorsOfDeclaration(TestCmp));
+      if (detected === undefined) {
+        return fail('Failed to recognize @Component');
+      }
+      const {analysis} = handler.analyze(TestCmp, detected.metadata);
+      expect(analysis?.resources.template.path).toContain(templateUrl);
+      expect(analysis?.resources.template.expression.getText()).toContain(`'${templateUrl}'`);
+    });
+
+    it('should keep track of internal and external styles', () => {
+      const {program, options, host} = makeProgram([
+        {
+          name: _('/node_modules/@angular/core/index.d.ts'),
+          contents: 'export const Component: any;',
+        },
+        {
+          name: _('/myStyle.css'),
+          contents: '<div>hello world</div>',
+        },
+        {
+          name: _('/entry.ts'),
+          contents: `
+          import {Component} from '@angular/core';
+
+          // These are ignored because we only attempt to store string literals
+          const ignoredStyleUrl = 'asdlfkj';
+          const ignoredStyle = '';
+          @Component({
+            template: '',
+            styleUrls: ['/myStyle.css', ignoredStyleUrl],
+            styles: ['a { color: red; }', 'b { color: blue; }', ignoredStyle, ...[ignoredStyle]],
+          }) class TestCmp {}
+      `
+        },
+      ]);
+      const {reflectionHost, handler} = setup(program, options, host);
+      const TestCmp = getDeclaration(program, _('/entry.ts'), 'TestCmp', isNamedClassDeclaration);
+      const detected = handler.detect(TestCmp, reflectionHost.getDecoratorsOfDeclaration(TestCmp));
+      if (detected === undefined) {
+        return fail('Failed to recognize @Component');
+      }
+      const {analysis} = handler.analyze(TestCmp, detected.metadata);
+      expect(analysis?.resources.styles.size).toBe(3);
+    });
   });
 
   function ivyCode(code: ErrorCode): number {
diff --git a/packages/compiler-cli/src/ngtsc/core/src/compiler.ts b/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
index e4bd76313e..4a26f2f9a8 100644
--- a/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
+++ b/packages/compiler-cli/src/ngtsc/core/src/compiler.ts
@@ -261,6 +261,9 @@ export class NgCompiler {
     const {resourceRegistry} = this.ensureAnalyzed();
     const styles = resourceRegistry.getStyles(classDecl);
     const template = resourceRegistry.getTemplate(classDecl);
+    if (template === null) {
+      return null;
+    }
 
     return {styles, template};
   }
diff --git a/packages/compiler-cli/src/ngtsc/metadata/src/resource_registry.ts b/packages/compiler-cli/src/ngtsc/metadata/src/resource_registry.ts
index c52567807a..24547bd968 100644
--- a/packages/compiler-cli/src/ngtsc/metadata/src/resource_registry.ts
+++ b/packages/compiler-cli/src/ngtsc/metadata/src/resource_registry.ts
@@ -12,23 +12,24 @@ import {AbsoluteFsPath} from '../../file_system';
 import {ClassDeclaration} from '../../reflection';
 
 /**
- * Represents an external resource for a component and contains the `AbsoluteFsPath`
+ * Represents an resource for a component and contains the `AbsoluteFsPath`
  * to the file which was resolved by evaluating the `ts.Expression` (generally, a relative or
  * absolute string path to the resource).
+ *
+ * If the resource is inline, the `path` will be `null`.
  */
 export interface Resource {
-  path: AbsoluteFsPath;
+  path: AbsoluteFsPath|null;
   expression: ts.Expression;
 }
 
 /**
- * Represents the external resources of a component.
+ * Represents the either inline or external resources of a component.
  *
- * If the component uses an inline template, the template resource will be `null`.
- * If the component does not have external styles, the `styles` `Set` will be empty.
+ * A resource with a `path` of `null` is considered inline.
  */
 export interface ComponentResources {
-  template: Resource|null;
+  template: Resource;
   styles: ReadonlySet<Resource>;
 }
 
@@ -40,17 +41,17 @@ export interface ComponentResources {
  * assistance.
  */
 export class ResourceRegistry {
-  private templateToComponentsMap = new Map<AbsoluteFsPath, Set<ClassDeclaration>>();
+  private externalTemplateToComponentsMap = new Map<AbsoluteFsPath, Set<ClassDeclaration>>();
   private componentToTemplateMap = new Map<ClassDeclaration, Resource>();
   private componentToStylesMap = new Map<ClassDeclaration, Set<Resource>>();
-  private styleToComponentsMap = new Map<AbsoluteFsPath, Set<ClassDeclaration>>();
+  private externalStyleToComponentsMap = new Map<AbsoluteFsPath, Set<ClassDeclaration>>();
 
   getComponentsWithTemplate(template: AbsoluteFsPath): ReadonlySet<ClassDeclaration> {
-    if (!this.templateToComponentsMap.has(template)) {
+    if (!this.externalTemplateToComponentsMap.has(template)) {
       return new Set();
     }
 
-    return this.templateToComponentsMap.get(template)!;
+    return this.externalTemplateToComponentsMap.get(template)!;
   }
 
   registerResources(resources: ComponentResources, component: ClassDeclaration) {
@@ -64,10 +65,12 @@ export class ResourceRegistry {
 
   registerTemplate(templateResource: Resource, component: ClassDeclaration): void {
     const {path} = templateResource;
-    if (!this.templateToComponentsMap.has(path)) {
-      this.templateToComponentsMap.set(path, new Set());
+    if (path !== null) {
+      if (!this.externalTemplateToComponentsMap.has(path)) {
+        this.externalTemplateToComponentsMap.set(path, new Set());
+      }
+      this.externalTemplateToComponentsMap.get(path)!.add(component);
     }
-    this.templateToComponentsMap.get(path)!.add(component);
     this.componentToTemplateMap.set(component, templateResource);
   }
 
@@ -83,10 +86,12 @@ export class ResourceRegistry {
     if (!this.componentToStylesMap.has(component)) {
       this.componentToStylesMap.set(component, new Set());
     }
-    if (!this.styleToComponentsMap.has(path)) {
-      this.styleToComponentsMap.set(path, new Set());
+    if (path !== null) {
+      if (!this.externalStyleToComponentsMap.has(path)) {
+        this.externalStyleToComponentsMap.set(path, new Set());
+      }
+      this.externalStyleToComponentsMap.get(path)!.add(component);
     }
-    this.styleToComponentsMap.get(path)!.add(component);
     this.componentToStylesMap.get(component)!.add(styleResource);
   }
 
@@ -98,10 +103,10 @@ export class ResourceRegistry {
   }
 
   getComponentsWithStyle(styleUrl: AbsoluteFsPath): ReadonlySet<ClassDeclaration> {
-    if (!this.styleToComponentsMap.has(styleUrl)) {
+    if (!this.externalStyleToComponentsMap.has(styleUrl)) {
       return new Set();
     }
 
-    return this.styleToComponentsMap.get(styleUrl)!;
+    return this.externalStyleToComponentsMap.get(styleUrl)!;
   }
 }