A coil component includes a body having one surface and the other surface and a plurality of wall surfaces, first and second insulating substrates spaced apart from each other, first and second recesses disposed in both end surfaces of the body and extending to one surface of the body, first and second coil portions disposed on the first and second insulating substrates, one ends and the other ends of the first and second coil portions being exposed to the first and second recesses, first and second external electrodes disposed along an inner surface of the first recess and one surface of the body and connected to one ends of the first and second coil portions, and third and fourth external electrodes disposed along an inner surface of the second recess and one surface of the body and connected to the other ends of the first and second coil portions.