Satellite networks are recognized as an effective solution to ensure seamless connectivity worldwide, catering to a diverse range of applications. However, the broad coverage and broadcasting nature of satellite networks also expose them to security challenges. Despite these challenges, there is a lack of analytical understanding addressing the secrecy performance of these networks. This paper presents a secrecy rate analysis for downlink low Earth orbit (LEO) satellite networks by modeling the spatial distribution of satellites, users, and potential eavesdroppers as homogeneous Poisson point processes on concentric spheres. Specifically, we provide an analytical expression for the ergodic secrecy rate of a typical downlink user in terms of the satellite network parameters, fading parameters, and path-loss exponent. Simulation results show the exactness of the provided expressions and we find that optimal satellite altitude increases with eavesdropper density.