A switching regulator includes a switching element, a rectifier element, an output capacitor having one electrode connected to an output terminal, a control circuit which supplies a pulse width modulation signal in accordance with a voltage of the output terminal to a control terminal of the switching element, a load determination circuit which outputs a determination signal in accordance with a load, based on a voltage of the control terminal of the switching element, and a variable inductance circuit including a plurality of coils and having an inductance value which is switchable based on the determination signal.