A magneto-resistive element includes a first ferromagnetic layer, a second ferromagnetic layer, and a non-magnetic layer. The non-magnetic layer is located between the first ferromagnetic layer and the second ferromagnetic layer. The non-magnetic layer includes a first central region, and a first outer circumferential region disposed on an outer side of the first central region. A maximum thickness of the first outer circumferential region is greater than an average thickness of the first central region.