diff --git a/src/blockdom/html.ts b/src/blockdom/html.ts
index de4748d6..0c01eccf 100644
--- a/src/blockdom/html.ts
+++ b/src/blockdom/html.ts
@@ -61,6 +61,7 @@ class VHtml {
       // remove current content
       this.remove();
       this.content = content;
+      this.html = other.html;
     }
   }
 
diff --git a/tests/components/__snapshots__/basics.test.ts.snap b/tests/components/__snapshots__/basics.test.ts.snap
index b85efa8b..99fd4dd4 100644
--- a/tests/components/__snapshots__/basics.test.ts.snap
+++ b/tests/components/__snapshots__/basics.test.ts.snap
@@ -1217,6 +1217,20 @@ exports[`t-out in components can render list of t-out  1`] = `
 }"
 `;
 
+exports[`t-out in components can switch the contents of two t-out repeatedly 1`] = `
+"function anonymous(bdom, helpers
+) {
+  let { text, createBlock, list, multi, html, toggler, component, comment } = bdom;
+  let { safeOutput } = helpers;
+  
+  return function template(ctx, node, key = \\"\\") {
+    let b2 = safeOutput(ctx['state'].a);
+    let b3 = safeOutput(ctx['state'].b);
+    return multi([b2, b3]);
+  }
+}"
+`;
+
 exports[`t-out in components update properly on state changes 1`] = `
 "function anonymous(bdom, helpers
 ) {
diff --git a/tests/components/basics.test.ts b/tests/components/basics.test.ts
index 2e12d33f..40ec74e8 100644
--- a/tests/components/basics.test.ts
+++ b/tests/components/basics.test.ts
@@ -1006,4 +1006,31 @@ describe("t-out in components", () => {
       "<div>&lt;b&gt;one&lt;/b&gt;<b>one</b>&lt;b&gt;two&lt;/b&gt;<b>two</b>&lt;b&gt;tree&lt;/b&gt;<b>tree</b></div>"
     );
   });
+
+  test("can switch the contents of two t-out repeatedly", async () => {
+    class Test extends Component {
+      static template = xml`
+        <t t-out="state.a"/>
+        <t t-out="state.b"/>
+      `;
+      state = useState({
+        a: markup("<div>1</div>"),
+        b: markup("<div>2</div>"),
+      });
+
+      reverse() {
+        const { state } = this;
+        [state.a, state.b] = [state.b, state.a];
+      }
+    }
+
+    const comp = await mount(Test, fixture);
+    expect(fixture.innerHTML).toBe("<div>1</div><div>2</div>");
+    comp.reverse();
+    await nextTick();
+    expect(fixture.innerHTML).toBe("<div>2</div><div>1</div>");
+    comp.reverse();
+    await nextTick();
+    expect(fixture.innerHTML).toBe("<div>1</div><div>2</div>");
+  });
 });