It is crucial to better understand the magnetization reversal process between soft and hard magnets and to achieve a high maximum energy product in thick composite multilayers. In this study, we find that the exchange interactions dominate in soft–hard-magnetic composite bilayers, while dipole interactions are predominant in soft–hard-magnetic composite trilayers. Based on the first-order reversal curve, magnetization reversal models are developed for both the thick composite bilayer and trilayer. Dipole interactions play an important role in the long range, resulting in higher coercivity and remanence in the thick trilayer. A multilayer in a stacked trilayer structure is achieved, which is composed of thick films with a perpendicular magnetic anisotropy at a thickness of up to 16 μm. The enhanced dipole interactions lead to a remanent polarization of 1 T and a maximum energy product of 22.5 MGOe. This work contributes to the preparation of thick films with a high maximum energy product for applications in magnetic microelectromechanical systems.