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Inductive knowledge graph completion aims to predict missing triplets in an incomplete knowledge graph that differs from the one observed during training. While subgraph reasoning models have demonstrated empirical success in this task, their theoretical properties, such as stability and generalization capability, remain unexplored. In this work, we present the first theoretical analysis of the relationship between the stability and the generalization capability for subgraph reasoning models. Specifically, we define stability as the degree of consistency in a subgraph reasoning model's outputs in response to differences in input subgraphs and introduce the Relational Tree Mover’s Distance as a metric to quantify the differences between the subgraphs. We then show that the generalization capability of subgraph reasoning models, defined as the discrepancy between the performance on training data and test data, is proportional to their stability. Furthermore, we empirically analyze the impact of stability on generalization capability using real-world datasets, validating our theoretical findings.