A voltage regulator has a sense transistor through which a sense current flows in accordance with a magnitude of a load current, and a sense resistor through which the sense current flows. A control transistor controls the load current in accordance with a voltage across the sense resistor. A current measurement transistor measures the sense current flowing through the sense transistor and is disposed adjacent to the sense transistor. A measuring characteristics transistor measures characteristics of the control transistor and is disposed adjacent to the control transistor.