diff --git a/Sources/OpenAPIKit/Components Object/Components.swift b/Sources/OpenAPIKit/Components Object/Components.swift
index 0cc169a99..b9193e6dd 100644
--- a/Sources/OpenAPIKit/Components Object/Components.swift	
+++ b/Sources/OpenAPIKit/Components Object/Components.swift	
@@ -298,7 +298,12 @@ extension OpenAPI.Components {
 }
 
 extension OpenAPI.Components {
-    internal mutating func externallyDereference<Context: ExternalLoader>(in context: Context.Type) async throws {
+    internal mutating func externallyDereference<Context: ExternalLoader>(in context: Context.Type, depth: ExternalDereferenceDepth = .iterations(1)) async throws {
+        if case let .iterations(number) = depth,
+           number <= 0 {
+            return
+        }
+
         let oldSchemas = schemas
         let oldResponses = responses
         let oldParameters = parameters
@@ -336,15 +341,43 @@ extension OpenAPI.Components {
 
         callbacks = newCallbacks
 
-        try await merge(c1)
-        try await merge(c2)
-        try await merge(c3)
-        try await merge(c4)
-        try await merge(c5)
-        try await merge(c6)
-        try await merge(c7)
-
-        try merge(c8)
+        let c1Resolved = try await c1
+        let c2Resolved = try await c2
+        let c3Resolved = try await c3
+        let c4Resolved = try await c4
+        let c5Resolved = try await c5
+        let c6Resolved = try await c6
+        let c7Resolved = try await c7
+        let c8Resolved = c8
+
+        let noNewComponents =
+            c1Resolved.isEmpty
+            && c2Resolved.isEmpty
+            && c3Resolved.isEmpty
+            && c4Resolved.isEmpty
+            && c5Resolved.isEmpty
+            && c6Resolved.isEmpty
+            && c7Resolved.isEmpty
+            && c8Resolved.isEmpty
+
+        if noNewComponents { return }
+
+        try merge(c1Resolved)
+        try merge(c2Resolved)
+        try merge(c3Resolved)
+        try merge(c4Resolved)
+        try merge(c5Resolved)
+        try merge(c6Resolved)
+        try merge(c7Resolved)
+
+        try merge(c8Resolved)
+        
+        switch depth {
+            case .iterations(let number):
+                try await externallyDereference(in: context, depth: .iterations(number - 1))
+            case .full:
+                try await externallyDereference(in: context, depth: .full)
+        }
     }
 }
 
diff --git a/Sources/OpenAPIKit/Document/Document.swift b/Sources/OpenAPIKit/Document/Document.swift
index c8eaa0afa..75a703363 100644
--- a/Sources/OpenAPIKit/Document/Document.swift
+++ b/Sources/OpenAPIKit/Document/Document.swift
@@ -324,6 +324,17 @@ extension OpenAPI.Document {
     }
 }
 
+public enum ExternalDereferenceDepth {
+    case iterations(Int)
+    case full
+}
+
+extension ExternalDereferenceDepth: ExpressibleByIntegerLiteral {
+    public init(integerLiteral value: Int) {
+        self = .iterations(value)
+    }
+}
+
 extension OpenAPI.Document {
     /// Create a locally-dereferenced OpenAPI
     /// Document.
@@ -351,14 +362,15 @@ extension OpenAPI.Document {
         return try DereferencedDocument(self)
     }
 
-    public mutating func externallyDereference<Context: ExternalLoader>(in context: Context.Type, depth: Int = 1) async throws {
-        guard depth > 0 else { return }
+    public mutating func externallyDereference<Context: ExternalLoader>(in context: Context.Type, depth: ExternalDereferenceDepth = .iterations(1)) async throws {
+        if case let .iterations(number) = depth,
+           number <= 0 {
+            return
+        }
 
         let oldPaths = paths
         let oldWebhooks = webhooks
 
-        try await components.externallyDereference(in: context)
-
         async let (newPaths, c1) = oldPaths.externallyDereferenced(with: context)
         async let (newWebhooks, c2) = oldWebhooks.externallyDereferenced(with: context) 
 
@@ -367,7 +379,7 @@ extension OpenAPI.Document {
         try await components.merge(c1)
         try await components.merge(c2)
 
-        try await externallyDereference(in: context, depth: depth - 1)
+        try await components.externallyDereference(in: context, depth: depth)
     }
 }
 
diff --git a/Tests/OpenAPIKitTests/Document/DocumentTests.swift b/Tests/OpenAPIKitTests/Document/DocumentTests.swift
index 6f1ba6761..7a57f642c 100644
--- a/Tests/OpenAPIKitTests/Document/DocumentTests.swift
+++ b/Tests/OpenAPIKitTests/Document/DocumentTests.swift
@@ -1264,7 +1264,11 @@ extension DocumentTests {
         var docCopy2 = document
         try await docCopy2.externallyDereference(in: ExampleLoader.self, depth: 2)
 
-        XCTAssertEqual(String(describing: docCopy1), String(describing: docCopy2))
+        var docCopy3 = document
+        try await docCopy3.externallyDereference(in: ExampleLoader.self, depth: .full)
+
+        XCTAssertEqual(docCopy1, docCopy2)
+        XCTAssertEqual(docCopy2, docCopy3)
 
        // - MARK: After
        print(