The present invention relates to a DC-DC converter capable of performing stable operation even when a load is light. The DC-DC converter includes: a first switching element connected between the other end of an inductor generating an output voltage at one end and a power supply terminal; a pseudo ripple generation circuit configured to generate a pseudo ripple voltage depending on a ripple component that is generated in the output voltage, and a smoothed voltage by smoothing the pseudo ripple voltage; a comparison circuit configured to combine a first comparison result obtained by comparing the pseudo ripple voltage and the smoothed voltage to each other, and a second comparison result obtained by comparing a reference voltage and a feedback voltage obtained by dividing the output voltage to each other, and output a comparison result signal; and an output control circuit configured to control the first switching element to be turned on and off based on the comparison result signal, the comparison circuit being configured to output only the second comparison result as the comparison result signal when a load becomes lighter.