diff --git a/src/Immediate.Cache.Shared/ApplicationCacheBase.cs b/src/Immediate.Cache.Shared/ApplicationCacheBase.cs
index 4947967..faf7edb 100644
--- a/src/Immediate.Cache.Shared/ApplicationCacheBase.cs
+++ b/src/Immediate.Cache.Shared/ApplicationCacheBase.cs
@@ -117,6 +117,35 @@ public void SetValue(TRequest request, TResponse value) =>
 	public void RemoveValue(TRequest request) =>
 		GetCacheValue(request).RemoveValue();
 
+	/// <summary>
+	///	    Transforms the cached value, returning the newly transformed value.
+	/// </summary>
+	/// <param name="request">
+	///	    The request payload to be cached.
+	/// </param>
+	/// <param name="transformer">
+	///	    A method which will transformed the cached value into a new value.
+	/// </param>
+	/// <param name="token">
+	///	    The <see cref="CancellationToken"/> to monitor for a cancellation request.
+	/// </param>
+	/// <returns>
+	///	    The transformed value.
+	/// </returns>
+	/// <remarks>
+	///	    The <paramref name="transformer"/> method may be called multiple times. <see cref="TransformValue(TRequest,
+	///     Func{TResponse, CancellationToken, ValueTask{TResponse}}, CancellationToken)"/> is implemented by retrieving
+	///     the value from cache, modifying it, and attempting to store the new value into the cache. Since the update
+	///     cannot be done inside of a critical section, the cached value may have changed between query and storage. If
+	///     this happens, the transformation process will be restarted.
+	/// </remarks>
+	protected ValueTask<TResponse> TransformValue(
+		TRequest request,
+		Func<TResponse, CancellationToken, ValueTask<TResponse>> transformer,
+		CancellationToken token = default
+	) =>
+		GetCacheValue(request).Transform(transformer, token);
+
 	[SuppressMessage("Design", "CA1001:Types that own disposable fields should be disposable", Justification = "CancellationTokenSource does not need to be disposed here.")]
 	private sealed class CacheValue(
 		TRequest request,
@@ -218,7 +247,7 @@ public void SetValue(TResponse response)
 			lock (_lock)
 			{
 				if (_responseSource is null or { Task.IsCompleted: true })
-					_responseSource = new TaskCompletionSource<TResponse>();
+					_responseSource = new();
 
 				_responseSource.SetResult(response);
 
@@ -227,6 +256,58 @@ public void SetValue(TResponse response)
 			}
 		}
 
+		[SuppressMessage("Performance", "CA1849:Call async methods when in an async method", Justification = "Inside a `lock`, and testing `IsCompleted` first.")]
+		public async ValueTask<TResponse> Transform(
+			Func<TResponse, CancellationToken, ValueTask<TResponse>> transformer,
+			CancellationToken token
+		)
+		{
+			while (true)
+			{
+				if (await Core(transformer, token).ConfigureAwait(false) is (true, var response))
+					return response;
+
+				_ = await GetHandlerTask().WaitAsync(token).ConfigureAwait(false);
+			}
+
+			async ValueTask<(bool, TResponse)> Core(
+				Func<TResponse, CancellationToken, ValueTask<TResponse>> transformer,
+				CancellationToken token
+			)
+			{
+				if (GetTask() is not { } task)
+					return default;
+
+				var response = await task.ConfigureAwait(false);
+				var result = await transformer(response, token).ConfigureAwait(false);
+
+				lock (_lock)
+				{
+					if (!ReferenceEquals(_responseSource?.Task, task))
+						return default;
+
+					(_responseSource = new()).SetResult(result);
+					return (true, result);
+				}
+			}
+
+			[SuppressMessage(
+				"Design",
+				"MA0022:Return Task.FromResult instead of returning null",
+				Justification = "`null` is actually desired here"
+			)]
+			Task<TResponse>? GetTask()
+			{
+				lock (_lock)
+				{
+					if (_responseSource is { Task: { IsCompleted: true } task })
+						return task;
+				}
+
+				return null;
+			}
+		}
+
 		public void RemoveValue()
 		{
 			lock (_lock)
diff --git a/tests/Immediate.Cache.FunctionalTests/ApplicationCacheTests.cs b/tests/Immediate.Cache.FunctionalTests/ApplicationCacheTests.cs
index ed03253..c5dc751 100644
--- a/tests/Immediate.Cache.FunctionalTests/ApplicationCacheTests.cs
+++ b/tests/Immediate.Cache.FunctionalTests/ApplicationCacheTests.cs
@@ -307,4 +307,120 @@ public async Task ExceptionGetsPropagatedCorrectly()
 		var ex = await Assert.ThrowsAsync<InvalidOperationException>(async () => await responseTask);
 		Assert.Equal("Test Exception 1", ex.Message);
 	}
+
+	[Test]
+	public async Task TransformWorksWhenNoValueCachedInitially()
+	{
+		var request = new DelayGetValue.Query()
+		{
+			Value = 1,
+			Name = "Request1",
+		};
+		request.WaitForTestToContinueOperation.SetResult();
+
+		var cache = _serviceProvider.GetRequiredService<DelayGetValueCache>();
+
+		var transformation = new DelayGetValueCache.TransformParameters { Adder = 5 };
+		transformation.WaitForTestToContinueOperation.SetResult();
+		var transformedResponse = await cache.TransformResult(request, transformation);
+
+		Assert.Equal(6, transformedResponse.Value);
+		Assert.Equal(1, transformation.TimesExecuted);
+
+		var cachedResponse = await cache.GetValue(request);
+		Assert.Equal(6, cachedResponse.Value);
+
+		Assert.True(cachedResponse.RandomValue == transformedResponse.RandomValue);
+	}
+
+	[Test]
+	public async Task TransformWorksWhenValueCachedInitially()
+	{
+		var request = new DelayGetValue.Query()
+		{
+			Value = 1,
+			Name = "Request1",
+		};
+		request.WaitForTestToContinueOperation.SetResult();
+
+		var cache = _serviceProvider.GetRequiredService<DelayGetValueCache>();
+
+		var cachedResponse = await cache.GetValue(request);
+		Assert.Equal(1, cachedResponse.Value);
+
+		var transformation = new DelayGetValueCache.TransformParameters { Adder = 5 };
+		transformation.WaitForTestToContinueOperation.SetResult();
+		var transformedResponse = await cache.TransformResult(request, transformation);
+
+		Assert.Equal(6, transformedResponse.Value);
+		Assert.Equal(1, transformation.TimesExecuted);
+
+		cachedResponse = await cache.GetValue(request);
+		Assert.Equal(6, cachedResponse.Value);
+
+		Assert.True(cachedResponse.RandomValue == transformedResponse.RandomValue);
+	}
+
+	[Test]
+	public async Task TransformWorksWhenValueChanges()
+	{
+		var request = new DelayGetValue.Query()
+		{
+			Value = 1,
+			Name = "Request1",
+		};
+		request.WaitForTestToContinueOperation.SetResult();
+
+		var cache = _serviceProvider.GetRequiredService<DelayGetValueCache>();
+
+		var cachedResponse = await cache.GetValue(request);
+		Assert.Equal(1, cachedResponse.Value);
+
+		var transformation = new DelayGetValueCache.TransformParameters { Adder = 5 };
+		var transformedResponseTask = cache.TransformResult(request, transformation);
+		await transformation.WaitForTestToStartExecuting.Task;
+
+		cache.SetValue(request, new(4, ExecutedHandler: false, Guid.NewGuid()));
+		transformation.WaitForTestToContinueOperation.SetResult();
+
+		var transformedResponse = await transformedResponseTask;
+		Assert.Equal(9, transformedResponse.Value);
+		Assert.Equal(2, transformation.TimesExecuted);
+
+		cachedResponse = await cache.GetValue(request);
+		Assert.Equal(9, cachedResponse.Value);
+
+		Assert.True(cachedResponse.RandomValue == transformedResponse.RandomValue);
+	}
+
+	[Test]
+	public async Task TransformWorksWhenMultipleSimultaneous()
+	{
+		var request = new DelayGetValue.Query()
+		{
+			Value = 1,
+			Name = "Request1",
+		};
+		request.WaitForTestToContinueOperation.SetResult();
+
+		var cache = _serviceProvider.GetRequiredService<DelayGetValueCache>();
+
+		var transformation1 = new DelayGetValueCache.TransformParameters { Adder = 5 };
+		var transformedResponseTask1 = cache.TransformResult(request, transformation1);
+		await transformation1.WaitForTestToStartExecuting.Task;
+
+		var transformation2 = new DelayGetValueCache.TransformParameters { Adder = 6 };
+		var transformedResponseTask2 = cache.TransformResult(request, transformation2);
+		await transformation2.WaitForTestToStartExecuting.Task;
+
+		transformation1.WaitForTestToContinueOperation.SetResult();
+		var transformedResponse1 = await transformedResponseTask1;
+		Assert.Equal(6, transformedResponse1.Value);
+		Assert.Equal(1, transformation1.TimesExecuted);
+
+		transformation2.WaitForTestToContinueOperation.SetResult();
+		var transformedResponse2 = await transformedResponseTask2;
+		Assert.Equal(12, transformedResponse2.Value);
+		Assert.Equal(2, transformation2.TimesExecuted);
+	}
 }
diff --git a/tests/Immediate.Cache.FunctionalTests/DelayGetValueCache.cs b/tests/Immediate.Cache.FunctionalTests/DelayGetValueCache.cs
index 9e66a99..a3555ca 100644
--- a/tests/Immediate.Cache.FunctionalTests/DelayGetValueCache.cs
+++ b/tests/Immediate.Cache.FunctionalTests/DelayGetValueCache.cs
@@ -19,4 +19,29 @@ public sealed class DelayGetValueCache(
 	)]
 	protected override string TransformKey(DelayGetValue.Query request) =>
 		$"DelayGetValue(query: {request.Value})";
+
+	public ValueTask<DelayGetValue.Response> TransformResult(DelayGetValue.Query query, TransformParameters transformation)
+	{
+		return TransformValue(
+			query,
+			async (r, ct) =>
+			{
+				_ = transformation.WaitForTestToStartExecuting.TrySetResult();
+				await transformation.WaitForTestToContinueOperation.Task;
+
+				transformation.TimesExecuted++;
+
+				return r with { Value = r.Value + transformation.Adder };
+			},
+			default
+		);
+	}
+
+	public sealed class TransformParameters
+	{
+		public required int Adder { get; init; }
+		public int TimesExecuted { get; set; }
+		public TaskCompletionSource WaitForTestToStartExecuting { get; } = new();
+		public TaskCompletionSource WaitForTestToContinueOperation { get; } = new();
+	}
 }