diff --git a/lib/__tests__/parse.test.js b/lib/__tests__/parse.test.js
index bd7663a..543cacf 100644
--- a/lib/__tests__/parse.test.js
+++ b/lib/__tests__/parse.test.js
@@ -328,7 +328,11 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('color');
-			expect(firstNode.value).toBe('${red}');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: '${red}',
+			});
 		});
 
 		test('property value with symbol right before interpolation', () => {
@@ -372,7 +376,11 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('color');
-			expect(firstNode.value).toBe('${red}');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: '${red}',
+			});
 		});
 
 		test('property value and !important (no semicolon)', () => {
@@ -394,7 +402,11 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('color');
-			expect(firstNode.value).toBe('${red}');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: '${red}',
+			});
 			expect(firstNode.important).toBe(true);
 		});
 
@@ -417,7 +429,11 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('color');
-			expect(firstNode.value).toBe('${red}');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: '${red}',
+			});
 			expect(firstNode.important).toBe(true);
 		});
 
@@ -442,7 +458,52 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('box-shadow');
-			expect(firstNode.value).toBe('${elevation1}, ${elevation2}');
+			expect(firstNode.value).toBe('$pssInterpolation0, $pssInterpolation1');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0, $pssInterpolation1',
+				raw: '${elevation1}, ${elevation2}',
+			});
+		});
+
+		test('property value with interpolated string concatenation', () => {
+			let document = parse(
+				"let Component = styled.div`border-color: ${secondaryColor + '40'}`;",
+			);
+
+			let firstNode = document.first.first;
+
+			expect(firstNode.prop).toBe('border-color');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: "${secondaryColor + '40'}",
+			});
+		});
+
+		test('property value with interpolated ternary', () => {
+			let document = parse("let Component = styled.div`padding: ${large ? '16px' : '8px'}`;");
+
+			let firstNode = document.first.first;
+
+			expect(firstNode.prop).toBe('padding');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: "${large ? '16px' : '8px'}",
+			});
+		});
+
+		test('property value with static value and interpolation stays multi-value', () => {
+			let document = parse('let Component = styled.div`margin: 4px ${gap}`;');
+
+			let firstNode = document.first.first;
+
+			expect(firstNode.prop).toBe('margin');
+			expect(firstNode.value).toBe('4px $pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '4px $pssInterpolation0',
+				raw: '4px ${gap}',
+			});
 		});
 
 		test('property value with props interpolation', () => {
@@ -466,7 +527,11 @@ describe('simple interpolations', () => {
 			let firstNode = document.first.first;
 
 			expect(firstNode.prop).toBe('background-image');
-			expect(firstNode.value).toBe('${(props) => props.backgroundImage}');
+			expect(firstNode.value).toBe('$pssInterpolation0');
+			expect(firstNode.raws.value).toEqual({
+				value: '$pssInterpolation0',
+				raw: '${(props) => props.backgroundImage}',
+			});
 		});
 
 		test('property value with interpolation inside url function', () => {
diff --git a/lib/__tests__/stringify.test.js b/lib/__tests__/stringify.test.js
index 104361a..1375b50 100644
--- a/lib/__tests__/stringify.test.js
+++ b/lib/__tests__/stringify.test.js
@@ -12,6 +12,9 @@ let tests = [
 	'let Component = styled.div`color: ${red} !important`;',
 	'let Component = styled.div`color: ${red} !important;`;',
 	'let Component = styled.div`box-shadow: ${elevation1}, ${elevation2}`;',
+	"let Component = styled.div`border-color: ${secondaryColor + '40'}`;",
+	"let Component = styled.div`padding: ${large ? '16px' : '8px'}`;",
+	'let Component = styled.div`margin: 4px ${gap}`;',
 	'let Component = styled.div`${color}: red`;',
 	'let Component = styled.div`display: flex; ${color}: red`;',
 	'let Component = styled.div`${Component} { color: red; }`;',
diff --git a/lib/parser.js b/lib/parser.js
index ded6061..a83e2df 100644
--- a/lib/parser.js
+++ b/lib/parser.js
@@ -332,13 +332,48 @@ export class Parser extends PostCSSParser {
 			firstSpaces = [];
 		}
 
-		this.raw(node, 'value', firstSpaces.concat(tokens), customProperty); // eslint-disable-line unicorn/prefer-spread
+		let valueTokens = [...firstSpaces, ...tokens];
+
+		this.raw(node, 'value', valueTokens, customProperty);
+
+		this.opaqueInterpolationsInValue(node, valueTokens);
 
 		if (node.value.includes(':') && !customProperty) {
 			this.checkMissedSemicolon(tokens);
 		}
 	}
 
+	opaqueInterpolationsInValue(node, tokens) {
+		let hasInterpolation = tokens.some((token) => this.isInterpolation(token));
+
+		if (!hasInterpolation) {
+			return;
+		}
+
+		let cleanValue = '';
+		let placeholderIndex = 0;
+
+		for (let token of tokens) {
+			if (this.isInterpolation(token)) {
+				// Opaque, single-token placeholder: no spaces, colons or quotes, so
+				// any CSS value parser treats it as exactly one value.
+				cleanValue += `$pssInterpolation${placeholderIndex}`;
+				placeholderIndex++;
+			} else {
+				cleanValue += token[1];
+			}
+		}
+
+		if (cleanValue === node.value) {
+			return;
+		}
+
+		let raw = node.raws.value ? node.raws.value.raw : node.value;
+
+		node.raws.value = { value: cleanValue, raw };
+		node.value = cleanValue;
+	}
+
 	// Helpers
 
 	fixLine(line) {