This paper presents the microstructures and mechanical and absorbing properties of double and triple layer, cement-based, composite panels. The results obtained show that the frequency range in 2-18GHz had less than −10dB effective bandwidth, which correlates with 3.7and 10.8GHz in double and triple layer cement-based composite panels. Furthermore, the double layer panel's compressive strength at 7 and 28 days was 40.2 and 61.2MPa, respectively. For the triple layer panel, the strength values were 35.6MPa and 49.2MPa. The triple layer panel's electromagnetic wave (EMW) absorbing properties were superior compared to the properties of the double layer panel. However, the triple layer panel's mechanical performance was inferior to that of the double layer panel. This study proposes that carbon nanotubes can effectively improve the compressive strength and interface structure of cement-based composite panels.