A multilayer board includes a base including insulating layers stacked in a stacking direction, and a mounting surface at an end of the base in a first direction along the stacking direction, an electronic component inside the base, and a first heat dissipator extending through at least one of the insulating layers from a surface of the electronic component located at an end of the electronic component in the first direction to the mounting surface. When a section of the first heat dissipator is defined as a first section, and a section of the first heat dissipator located farther in a second direction along the layer stacking direction than the first section is defined as a second section, there is a combination of a first section and a second section in which the second section extends farther outward than the first section when viewed from the layer stacking direction.