We perform a study of the moduli space of framed torsion-free sheaves on Hirzebruch surfaces by using localization techniques. We discuss some general properties of this moduli space by studying it in the framework of Huybrechts-Lehn theory of framed modules. We classify the fixed points under a toric action on the moduli space, and use this to compute the Poincar\'e polynomial of the latter. This will imply that the moduli spaces we are considering are irreducible. We also consider fractional first Chern classes, which means that we are extending our computation to a stacky deformation of a Hirzebruch surface. From the physical viewpoint, our results provide the mathematical framework for the counting of D4-D2-D0 branes bound states on total spaces of the bundles $\cO_{\PP^1}(-p)$.
