A multilayer capacitor includes a body, including a stacked structure formed of a plurality of dielectric layers and a plurality of internal electrodes, and a plurality of external electrodes. Each external electrode includes a conductive layer, disposed at the end of the body and connected to the plurality of internal electrodes, and a plating layer covering the conductive layer. Each conductive layer includes nickel (Ni) and barium titanate (BT), and an area occupied by nickel with respect to the total area of the respective conductive layer is 30% to 65%.