diff --git a/packages/angular_devkit/build_angular/src/webpack/plugins/scripts-webpack-plugin.ts b/packages/angular_devkit/build_angular/src/webpack/plugins/scripts-webpack-plugin.ts
index 31595dfb93b3..b62f045fe234 100644
--- a/packages/angular_devkit/build_angular/src/webpack/plugins/scripts-webpack-plugin.ts
+++ b/packages/angular_devkit/build_angular/src/webpack/plugins/scripts-webpack-plugin.ts
@@ -12,6 +12,11 @@ import { Chunk, Compilation, Compiler, sources as webpackSources } from 'webpack
 
 const Entrypoint = require('webpack/lib/Entrypoint');
 
+/**
+ * The name of the plugin provided to Webpack when tapping Webpack compiler hooks.
+ */
+const PLUGIN_NAME = 'scripts-webpack-plugin';
+
 export interface ScriptsWebpackPluginOptions {
   name: string;
   sourceMap?: boolean;
@@ -97,8 +102,8 @@ export class ScriptsWebpackPlugin {
       .filter((script) => !!script)
       .map((script) => path.resolve(this.options.basePath || '', script));
 
-    compiler.hooks.thisCompilation.tap('scripts-webpack-plugin', (compilation) => {
-      compilation.hooks.additionalAssets.tapPromise('scripts-webpack-plugin', async () => {
+    compiler.hooks.thisCompilation.tap(PLUGIN_NAME, (compilation) => {
+      compilation.hooks.additionalAssets.tapPromise(PLUGIN_NAME, async () => {
         if (await this.shouldSkip(compilation, scripts)) {
           if (this._cachedOutput) {
             this._insertOutput(compilation, this._cachedOutput, true);
@@ -149,19 +154,32 @@ export class ScriptsWebpackPlugin {
         });
 
         const combinedSource = new webpackSources.CachedSource(concatSource);
-        const filename = interpolateName(
-          { resourcePath: 'scripts.js' },
-          this.options.filename as string,
-          {
-            content: combinedSource.source(),
-          },
-        );
-
-        const output = { filename, source: combinedSource };
+
+        const output = { filename: this.options.filename, source: combinedSource };
         this._insertOutput(compilation, output);
         this._cachedOutput = output;
         addDependencies(compilation, scripts);
       });
+      compilation.hooks.processAssets.tapPromise(
+        {
+          name: PLUGIN_NAME,
+          stage: compiler.webpack.Compilation.PROCESS_ASSETS_STAGE_DEV_TOOLING,
+        },
+        async () => {
+          const assetName = this.options.filename;
+          const asset = compilation.getAsset(assetName);
+          if (asset) {
+            const interpolatedFilename = interpolateName(
+              { resourcePath: 'scripts.js' },
+              assetName,
+              { content: asset.source.source() },
+            );
+            if (assetName !== interpolatedFilename) {
+              compilation.renameAsset(assetName, interpolatedFilename);
+            }
+          }
+        },
+      );
     });
   }
 }
diff --git a/tests/legacy-cli/e2e/tests/build/scripts-output-hashing.ts b/tests/legacy-cli/e2e/tests/build/scripts-output-hashing.ts
new file mode 100644
index 000000000000..430b7a8478ac
--- /dev/null
+++ b/tests/legacy-cli/e2e/tests/build/scripts-output-hashing.ts
@@ -0,0 +1,45 @@
+import { expectFileMatchToExist, expectFileToMatch, writeMultipleFiles } from '../../utils/fs';
+import { ng } from '../../utils/process';
+import { updateJsonFile, updateTsConfig } from '../../utils/project';
+
+function getScriptsFilename(): Promise<string> {
+  return expectFileMatchToExist('dist/test-project/', /external-module\.[0-9a-f]{16}\.js/);
+}
+
+export default async function () {
+  // verify content hash is based on code after optimizations
+  await writeMultipleFiles({
+    'src/script.js': 'try { console.log(); } catch {}',
+  });
+  await updateJsonFile('angular.json', (configJson) => {
+    const build = configJson.projects['test-project'].architect.build;
+    build.options['scripts'] = [
+      {
+        input: 'src/script.js',
+        inject: true,
+        bundleName: 'external-module',
+      },
+    ];
+    build.configurations['production'].outputHashing = 'all';
+    configJson['cli'] = { cache: { enabled: 'false' } };
+  });
+  await updateTsConfig((json) => {
+    json['compilerOptions']['target'] = 'es2017';
+    json['compilerOptions']['module'] = 'es2020';
+  });
+  await ng('build', '--configuration=production');
+  const filenameBuild1 = await getScriptsFilename();
+  await expectFileToMatch(`dist/test-project/${filenameBuild1}`, 'try{console.log()}catch(c){}');
+
+  await updateTsConfig((json) => {
+    json['compilerOptions']['target'] = 'es2019';
+  });
+  await ng('build', '--configuration=production');
+  const filenameBuild2 = await getScriptsFilename();
+  await expectFileToMatch(`dist/test-project/${filenameBuild2}`, 'try{console.log()}catch{}');
+  if (filenameBuild1 === filenameBuild2) {
+    throw new Error(
+      'Contents of the built file changed between builds, but the content hash stayed the same!',
+    );
+  }
+}