diff --git a/.changeset/selfish-onions-begin.md b/.changeset/selfish-onions-begin.md
new file mode 100644
index 000000000000..7ecc1a2ebaa0
--- /dev/null
+++ b/.changeset/selfish-onions-begin.md
@@ -0,0 +1,5 @@
+---
+'svelte': minor
+---
+
+feat: partial evaluation
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
index 45a594af1f06..0292fecdf1f0 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/RegularElement.js
@@ -685,14 +685,14 @@ function build_element_special_value_attribute(element, node_id, attribute, cont
 			: value
 	);
 
+	const evaluated = context.state.scope.evaluate(value);
+
+	const assignment = b.assignment('=', b.member(node_id, '__value'), value);
+
 	const inner_assignment = b.assignment(
 		'=',
 		b.member(node_id, 'value'),
-		b.conditional(
-			b.binary('==', b.null, b.assignment('=', b.member(node_id, '__value'), value)),
-			b.literal(''), // render null/undefined values as empty string to support placeholder options
-			value
-		)
+		evaluated.is_defined ? assignment : b.logical('??', assignment, b.literal(''))
 	);
 
 	const update = b.stmt(
diff --git a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
index df6308d6316a..4fbc51f84a48 100644
--- a/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/client/visitors/shared/utils.js
@@ -89,21 +89,21 @@ export function build_template_chunk(
 				}
 			}
 
-			const is_defined =
-				value.type === 'BinaryExpression' ||
-				(value.type === 'UnaryExpression' && value.operator !== 'void') ||
-				(value.type === 'LogicalExpression' && value.right.type === 'Literal') ||
-				(value.type === 'Identifier' && value.name === state.analysis.props_id?.name);
-
-			if (!is_defined) {
-				// add `?? ''` where necessary (TODO optimise more cases)
-				value = b.logical('??', value, b.literal(''));
-			}
+			const evaluated = state.scope.evaluate(value);
+
+			if (evaluated.is_known) {
+				quasi.value.cooked += evaluated.value + '';
+			} else {
+				if (!evaluated.is_defined) {
+					// add `?? ''` where necessary
+					value = b.logical('??', value, b.literal(''));
+				}
 
-			expressions.push(value);
+				expressions.push(value);
 
-			quasi = b.quasi('', i + 1 === values.length);
-			quasis.push(quasi);
+				quasi = b.quasi('', i + 1 === values.length);
+				quasis.push(quasi);
+			}
 		}
 	}
 
diff --git a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
index 2c6aa2f316aa..807e12a8fa92 100644
--- a/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
+++ b/packages/svelte/src/compiler/phases/3-transform/server/visitors/shared/utils.js
@@ -44,15 +44,17 @@ export function process_children(nodes, { visit, state }) {
 			if (node.type === 'Text' || node.type === 'Comment') {
 				quasi.value.cooked +=
 					node.type === 'Comment' ? `<!--${node.data}-->` : escape_html(node.data);
-			} else if (node.type === 'ExpressionTag' && node.expression.type === 'Literal') {
-				if (node.expression.value != null) {
-					quasi.value.cooked += escape_html(node.expression.value + '');
-				}
 			} else {
-				expressions.push(b.call('$.escape', /** @type {Expression} */ (visit(node.expression))));
+				const evaluated = state.scope.evaluate(node.expression);
+
+				if (evaluated.is_known) {
+					quasi.value.cooked += escape_html((evaluated.value ?? '') + '');
+				} else {
+					expressions.push(b.call('$.escape', /** @type {Expression} */ (visit(node.expression))));
 
-				quasi = b.quasi('', i + 1 === sequence.length);
-				quasis.push(quasi);
+					quasi = b.quasi('', i + 1 === sequence.length);
+					quasis.push(quasi);
+				}
 			}
 		}
 
diff --git a/packages/svelte/src/compiler/phases/scope.js b/packages/svelte/src/compiler/phases/scope.js
index b6063c32343f..89668462f39a 100644
--- a/packages/svelte/src/compiler/phases/scope.js
+++ b/packages/svelte/src/compiler/phases/scope.js
@@ -1,4 +1,4 @@
-/** @import { ArrowFunctionExpression, ClassDeclaration, Expression, FunctionDeclaration, FunctionExpression, Identifier, ImportDeclaration, MemberExpression, Node, Pattern, VariableDeclarator } from 'estree' */
+/** @import { ArrowFunctionExpression, BinaryOperator, ClassDeclaration, Expression, FunctionDeclaration, FunctionExpression, Identifier, ImportDeclaration, MemberExpression, LogicalOperator, Node, Pattern, UnaryOperator, VariableDeclarator } from 'estree' */
 /** @import { Context, Visitor } from 'zimmerframe' */
 /** @import { AST, BindingKind, DeclarationKind } from '#compiler' */
 import is_reference from 'is-reference';
@@ -16,6 +16,10 @@ import { is_reserved, is_rune } from '../../utils.js';
 import { determine_slot } from '../utils/slot.js';
 import { validate_identifier_name } from './2-analyze/visitors/shared/utils.js';
 
+export const UNKNOWN = Symbol('unknown');
+export const NUMBER = Symbol('number'); // includes BigInt
+export const STRING = Symbol('string');
+
 export class Binding {
 	/** @type {Scope} */
 	scope;
@@ -34,7 +38,7 @@ export class Binding {
 	 * For destructured props such as `let { foo = 'bar' } = $props()` this is `'bar'` and not `$props()`
 	 * @type {null | Expression | FunctionDeclaration | ClassDeclaration | ImportDeclaration | AST.EachBlock | AST.SnippetBlock}
 	 */
-	initial;
+	initial = null;
 
 	/** @type {Array<{ node: Identifier; path: AST.SvelteNode[] }>} */
 	references = [];
@@ -100,6 +104,261 @@ export class Binding {
 	}
 }
 
+class Evaluation {
+	/** @type {Set<any>} */
+	values = new Set();
+
+	/**
+	 * True if there is exactly one possible value
+	 * @readonly
+	 * @type {boolean}
+	 */
+	is_known = true;
+
+	/**
+	 * True if the value is known to not be null/undefined
+	 * @readonly
+	 * @type {boolean}
+	 */
+	is_defined = true;
+
+	/**
+	 * True if the value is known to be a string
+	 * @readonly
+	 * @type {boolean}
+	 */
+	is_string = true;
+
+	/**
+	 * True if the value is known to be a number
+	 * @readonly
+	 * @type {boolean}
+	 */
+	is_number = true;
+
+	/**
+	 * @readonly
+	 * @type {any}
+	 */
+	value = undefined;
+
+	/**
+	 *
+	 * @param {Scope} scope
+	 * @param {Expression} expression
+	 */
+	constructor(scope, expression) {
+		switch (expression.type) {
+			case 'Literal':
+				this.values.add(expression.value);
+				break;
+
+			case 'Identifier':
+				var binding = scope.get(expression.name);
+
+				if (binding) {
+					if (
+						binding.initial?.type === 'CallExpression' &&
+						get_rune(binding.initial, scope) === '$props.id'
+					) {
+						this.values.add(STRING);
+						break;
+					}
+
+					const is_prop =
+						binding.kind === 'prop' ||
+						binding.kind === 'rest_prop' ||
+						binding.kind === 'bindable_prop';
+
+					if (!binding.updated && binding.initial !== null && !is_prop) {
+						const evaluation = binding.scope.evaluate(/** @type {Expression} */ (binding.initial));
+						for (const value of evaluation.values) {
+							this.values.add(value);
+						}
+						break;
+					}
+
+					// TODO each index is always defined
+				}
+
+				// TODO glean what we can from reassignments
+				// TODO one day, expose props and imports somehow
+
+				this.values.add(UNKNOWN);
+				break;
+
+			case 'BinaryExpression':
+				var a = scope.evaluate(/** @type {Expression} */ (expression.left)); // `left` cannot be `PrivateIdentifier` unless operator is `in`
+				var b = scope.evaluate(expression.right);
+
+				if (a.is_known && b.is_known) {
+					this.values.add(binary[expression.operator](a.value, b.value));
+					break;
+				}
+
+				switch (expression.operator) {
+					case '!=':
+					case '!==':
+					case '<':
+					case '<=':
+					case '>':
+					case '>=':
+					case '==':
+					case '===':
+					case 'in':
+					case 'instanceof':
+						this.values.add(true);
+						this.values.add(false);
+						break;
+
+					case '%':
+					case '&':
+					case '*':
+					case '**':
+					case '-':
+					case '/':
+					case '<<':
+					case '>>':
+					case '>>>':
+					case '^':
+					case '|':
+						this.values.add(NUMBER);
+						break;
+
+					case '+':
+						if (a.is_string || b.is_string) {
+							this.values.add(STRING);
+						} else if (a.is_number && b.is_number) {
+							this.values.add(NUMBER);
+						} else {
+							this.values.add(STRING);
+							this.values.add(NUMBER);
+						}
+						break;
+
+					default:
+						// @ts-expect-error we can't guard against future operators without
+						// TypeScript getting confused
+						throw new Error(`Unknown operator ${expression.operator}`);
+				}
+				break;
+
+			case 'ConditionalExpression':
+				var test = scope.evaluate(expression.test);
+				var consequent = scope.evaluate(expression.consequent);
+				var alternate = scope.evaluate(expression.alternate);
+
+				if (test.is_known) {
+					for (const value of (test.value ? consequent : alternate).values) {
+						this.values.add(value);
+					}
+				} else {
+					for (const value of consequent.values) {
+						this.values.add(value);
+					}
+
+					for (const value of alternate.values) {
+						this.values.add(value);
+					}
+				}
+				break;
+
+			case 'LogicalExpression':
+				a = scope.evaluate(expression.left);
+				b = scope.evaluate(expression.right);
+
+				if (a.is_known) {
+					if (b.is_known) {
+						this.values.add(logical[expression.operator](a.value, b.value));
+						break;
+					}
+
+					if (
+						(expression.operator === '&&' && !a.value) ||
+						(expression.operator === '||' && a.value) ||
+						(expression.operator === '??' && a.value != null)
+					) {
+						this.values.add(a.value);
+					} else {
+						for (const value of b.values) {
+							this.values.add(value);
+						}
+					}
+
+					break;
+				}
+
+				for (const value of a.values) {
+					this.values.add(value);
+				}
+
+				for (const value of b.values) {
+					this.values.add(value);
+				}
+				break;
+
+			case 'UnaryExpression':
+				var argument = scope.evaluate(expression.argument);
+
+				if (argument.is_known) {
+					this.values.add(unary[expression.operator](argument.value));
+					break;
+				}
+
+				switch (expression.operator) {
+					case '!':
+					case 'delete':
+						this.values.add(false);
+						this.values.add(true);
+						break;
+
+					case '+':
+					case '-':
+					case '~':
+						this.values.add(NUMBER);
+						break;
+
+					case 'typeof':
+						this.values.add(STRING);
+						break;
+
+					case 'void':
+						this.values.add(undefined);
+						break;
+
+					default:
+						// @ts-expect-error we can't guard against future operators without
+						// TypeScript getting confused
+						throw new Error(`Unknown operator ${expression.operator}`);
+				}
+				break;
+
+			default:
+				this.values.add(UNKNOWN);
+		}
+
+		for (const value of this.values) {
+			this.value = value; // saves having special logic for `size === 1`
+
+			if (value !== STRING && typeof value !== 'string') {
+				this.is_string = false;
+			}
+
+			if (value !== NUMBER && typeof value !== 'number') {
+				this.is_number = false;
+			}
+
+			if (value == null || value === UNKNOWN) {
+				this.is_defined = false;
+			}
+		}
+
+		if (this.values.size > 1 || typeof this.value === 'symbol') {
+			this.is_known = false;
+		}
+	}
+}
+
 export class Scope {
 	/** @type {ScopeRoot} */
 	root;
@@ -279,8 +538,61 @@ export class Scope {
 			this.root.conflicts.add(node.name);
 		}
 	}
+
+	/**
+	 *
+	 * @param {Expression} expression
+	 * @param {Set<any>} values
+	 */
+	evaluate(expression, values = new Set()) {
+		return new Evaluation(this, expression);
+	}
 }
 
+/** @type {Record<BinaryOperator, (left: any, right: any) => any>} */
+const binary = {
+	'!=': (left, right) => left != right,
+	'!==': (left, right) => left !== right,
+	'<': (left, right) => left < right,
+	'<=': (left, right) => left <= right,
+	'>': (left, right) => left > right,
+	'>=': (left, right) => left >= right,
+	'==': (left, right) => left == right,
+	'===': (left, right) => left === right,
+	in: (left, right) => left in right,
+	instanceof: (left, right) => left instanceof right,
+	'%': (left, right) => left % right,
+	'&': (left, right) => left & right,
+	'*': (left, right) => left * right,
+	'**': (left, right) => left ** right,
+	'+': (left, right) => left + right,
+	'-': (left, right) => left - right,
+	'/': (left, right) => left / right,
+	'<<': (left, right) => left << right,
+	'>>': (left, right) => left >> right,
+	'>>>': (left, right) => left >>> right,
+	'^': (left, right) => left ^ right,
+	'|': (left, right) => left | right
+};
+
+/** @type {Record<UnaryOperator, (argument: any) => any>} */
+const unary = {
+	'-': (argument) => -argument,
+	'+': (argument) => +argument,
+	'!': (argument) => !argument,
+	'~': (argument) => ~argument,
+	typeof: (argument) => typeof argument,
+	void: () => undefined,
+	delete: () => true
+};
+
+/** @type {Record<LogicalOperator, (left: any, right: any) => any>} */
+const logical = {
+	'||': (left, right) => left || right,
+	'&&': (left, right) => left && right,
+	'??': (left, right) => left ?? right
+};
+
 export class ScopeRoot {
 	/** @type {Set<string>} */
 	conflicts = new Set();
diff --git a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
index 332c909ebed9..21f6ed9680a9 100644
--- a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/client/index.svelte.js
@@ -10,11 +10,11 @@ export default function Nullish_coallescence_omittance($$anchor) {
 	var fragment = root();
 	var h1 = $.first_child(fragment);
 
-	h1.textContent = `Hello, ${name ?? ''}!`;
+	h1.textContent = 'Hello, world!';
 
 	var b = $.sibling(h1, 2);
 
-	b.textContent = `${1 ?? 'stuff'}${2 ?? 'more stuff'}${3 ?? 'even more stuff'}`;
+	b.textContent = '123';
 
 	var button = $.sibling(b, 2);
 
@@ -26,7 +26,7 @@ export default function Nullish_coallescence_omittance($$anchor) {
 
 	var h1_1 = $.sibling(button, 2);
 
-	h1_1.textContent = `Hello, ${name ?? 'earth' ?? ''}`;
+	h1_1.textContent = 'Hello, world';
 	$.template_effect(() => $.set_text(text, `Count is ${$.get(count) ?? ''}`));
 	$.append($$anchor, fragment);
 }
diff --git a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/server/index.svelte.js b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/server/index.svelte.js
index 8181bfd98eeb..3b23befcd44e 100644
--- a/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/server/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/nullish-coallescence-omittance/_expected/server/index.svelte.js
@@ -4,5 +4,5 @@ export default function Nullish_coallescence_omittance($$payload) {
 	let name = 'world';
 	let count = 0;
 
-	$$payload.out += `<h1>Hello, ${$.escape(name)}!</h1> <b>${$.escape(1 ?? 'stuff')}${$.escape(2 ?? 'more stuff')}${$.escape(3 ?? 'even more stuff')}</b> <button>Count is ${$.escape(count)}</button> <h1>Hello, ${$.escape(name ?? 'earth' ?? null)}</h1>`;
+	$$payload.out += `<h1>Hello, world!</h1> <b>123</b> <button>Count is ${$.escape(count)}</button> <h1>Hello, world</h1>`;
 }
\ No newline at end of file
diff --git a/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js b/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
index 46d376aca2f9..b341d39f28fb 100644
--- a/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
+++ b/packages/svelte/tests/snapshot/samples/skip-static-subtree/_expected/client/index.svelte.js
@@ -38,7 +38,7 @@ export default function Skip_static_subtree($$anchor, $$props) {
 	var select = $.sibling(div_1, 2);
 	var option = $.child(select);
 
-	option.value = null == (option.__value = 'a') ? '' : 'a';
+	option.value = option.__value = 'a';
 	$.reset(select);
 
 	var img = $.sibling(select, 2);
diff --git a/packages/svelte/tests/sourcemaps/samples/attached-sourcemap/input.svelte b/packages/svelte/tests/sourcemaps/samples/attached-sourcemap/input.svelte
index 21a47a72a9c9..715bbda8d92e 100644
--- a/packages/svelte/tests/sourcemaps/samples/attached-sourcemap/input.svelte
+++ b/packages/svelte/tests/sourcemaps/samples/attached-sourcemap/input.svelte
@@ -8,4 +8,4 @@
 		replace_me_script = 'hello'
 	;
 </script>
-<h1 class="done_replace_style_2">{done_replace_script_2}</h1>
+<h1 class="done_replace_style_2">{Math.random() < 1 && done_replace_script_2}</h1>